Analyst Andrew Wade of Jefferies maintained a Buy rating on Cranswick, retaining the price target of £62.00.
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Andrew Wade’s rating is based on Cranswick’s proactive response to recent animal welfare allegations. Despite the negative press surrounding the incidents at Somerby Top and North Moor farms, Cranswick has taken significant steps to address these issues. The company has implemented new management at the affected farms and revised its policies to prevent future occurrences, such as banning certain inhumane practices and installing AI-CCTV for better monitoring.
Wade acknowledges that while the news is concerning, Cranswick’s swift actions demonstrate its commitment to maintaining high standards. The farms in question were recently acquired, and the company has already made changes to ensure compliance with ethical practices. These efforts, combined with Cranswick’s overall operational resilience, support the Buy rating given by Wade.