Jefferies analyst Andrew Wade maintained a Buy rating on Greggs plc today and set a price target of p2,650.00.
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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.