Cranswick’s Swift Response to Controversy Supports Buy Rating

Cranswick (CWK – Research Report), the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Andrew Wade from Jefferies maintained a Buy rating on the stock and has a £57.00 price target.

Andrew Wade’s rating is based on Cranswick’s swift response to the recent controversy involving one of its farms. Despite the negative press surrounding the alleged mistreatment of pigs at Northmoor Farm, which accounts for less than 1% of Cranswick’s total pig population, the company has taken immediate action by suspending supplies from the farm and the team involved, while launching a thorough investigation.
Wade acknowledges that the incident is surprising given Cranswick’s long-standing reputation for maintaining high standards. He emphasizes that the supply from the implicated farm is not significant in the broader context of the company’s operations. This quick and decisive response by Cranswick, coupled with the immaterial impact on its overall supply chain, supports Wade’s confidence in maintaining a Buy rating for the stock.

According to TipRanks, Wade is a 4-star analyst with an average return of 4.5% and a 58.96% success rate.