Jefferies analyst Andrew Wade maintained a Buy rating on Greggs plc today and set a price target of p2,650.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Andrew Wade has given his Buy rating due to a combination of factors that highlight the potential value in Greggs plc’s stock. Despite a recent reduction in profit estimates for FY25 due to adverse weather conditions affecting sales, Wade views this as a temporary setback. He anticipates a recovery in like-for-like sales in the second half of the year, suggesting that the company’s fundamentals remain strong.
Furthermore, with the shares trading at approximately 12 times earnings, Wade sees an attractive investment opportunity in a company he considers to be of high quality. The limited adjustments to FY26 profit estimates further support his confidence in the company’s long-term prospects, reinforcing his Buy recommendation.