Andrew Wade, an analyst from Jefferies, maintained the Hold rating on Greencore. The associated price target remains the same with p185.00.
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Andrew Wade has given his Hold rating due to a combination of factors that reflect both positive and cautious elements in Greencore’s performance. The company has shown impressive operational results, with a significant increase in operating profit expectations for FY25, driven by strong revenue growth and effective profit conversion. This growth is attributed to new business acquisitions, product innovation, and favorable weather conditions.
Despite these positive outcomes, there are elements of uncertainty that justify a Hold rating. The upcoming decision from the CMA regarding the BAKK combination introduces a level of unpredictability. While there is optimism about the merger, the outcome remains uncertain, which warrants a cautious approach. Additionally, while Greencore is making strides towards its medium-term targets, the full impact of these efforts is yet to be fully realized, suggesting a balanced outlook for the stock.
Wade covers the Consumer Cyclical sector, focusing on stocks such as Pets at Home, Greggs plc, and DFS Furniture. According to TipRanks, Wade has an average return of 4.5% and a 53.27% success rate on recommended stocks.