Pinewood Technologies: Marshalls Rollout Delay Creates Attractive Entry Point Amid Intact FY28 Earnings Target

Jefferies analyst Andrew Wade maintained a Buy rating on Pinewood Technologies today and set a price target of p500.00.

Andrew Wade has given his Buy rating due to a combination of factors tied to Pinewood Technologies’ long‑term earnings potential despite near‑term disruption. He acknowledges that the Marshalls implementation has been pushed back from early 2026 to the second half of the year, leading him to trim his EBITDA forecasts for FY26 and FY27 to reflect the slower timing of this major contract.

At the same time, he emphasizes that the Marshalls rollout still appears highly likely to proceed and remains a key driver of growth for the business. Crucially, Pinewood has reiterated its FY28 EBITDA target of £58m, reinforcing his confidence that the earnings power of the company is intact and that the current weakness linked to the delay offers an attractive entry point for investors.

Wade covers the Consumer Cyclical sector, focusing on stocks such as Greggs plc, Pets at Home, and THG. According to TipRanks, Wade has an average return of 2.8% and a 50.22% success rate on recommended stocks.