Greggs plc (GGGSF)
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Greggs poised for re-rating as JP Morgan initiates coverage with 2,110p price target
JP Morgan has initiated coverage of Greggs PLC (LSE:GRG) with an “overweight” rating and a price target of 2,110p by December 2027, suggesting around 35% upside from current levels.The shares rose 6% to 1,680p. The bank said the bakery chain is a “structural winner” in the UK consumer landscape, citing strong operational metrics across its estate.
Greggs: Shares Still Cheap On Macro And CapEx Headwinds (Upgrade)
Shares of British quick-service restaurant Greggs have been weak this year, with the ADSs down around 20%. Like-for-like sales growth at company-managed shops was just 1.5% in Q3, driven by weak consumer sentiment that has affected the entire industry. Capital spending is currently elevated as Greggs is expanding its supply chain capacity. This has caused its net cash position to temporarily dwindle, hitting earnings due to lower interest income.
Greggs get mostly positive rating from brokers thanks to better-than-feared trading
Analysts are split over sausage-roll merchant Greggs PLC (LSE:GRG) following a third-quarter update that revealed weaker volumes and a slowdown in store openings. The bakery chain said total sales rose 6.1% in the 13 weeks to 27 September, down from 7% in the first half of the year.
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Greggs plc Profile
| - Industry | - Sector | Ms. Roisin Helen Currie CEO | OTC GREY Exchange | - ISIN |
| United Kingdom Country | 31,839 Employees | 2 May 2025 Last Dividend | - Last Split | - IPO Date |
Overview
Greggs plc, rooted in its founding in 1939, has grown to become a leading food-on-the-go retailer within the United Kingdom. Headquartered in Newcastle upon Tyne, the company has built a reputable presence across the region through its extensive network of outlets, both company-owned and franchised. Beyond its core retail operations, Greggs engages in property holding, participates in non-trading activities, and manages trustee businesses. This multifaceted approach to business allows Greggs to maintain a robust footprint in the UK’s fast-paced food sector. Through strategic expansion and commitment to quality, Greggs plc has cemented its position as a staple of the UK's food-on-the-go market, serving millions of customers annually.
Products and Services
- Fresh Bakery Products:
- Sandwiches:
- Drinks:
- Franchise and Wholesale Partnerships:
- Property Holding and Non-Trading Activities:
Greggs takes pride in offering a wide variety of fresh bakery products, including but not limited to, savoury pastries, sandwiches, sweet treats, and bread. These products are known for their freshness and quality, catering to the diverse preferences of the UK market.
The company’s range of sandwiches caters to a variety of tastes with multiple filling options. Prepared daily, these sandwiches are designed to satisfy the convenience and quality demands of on-the-go consumers.
Complementing its solid food offerings, Greggs also provides a selection of drinks. This includes hot beverages like tea and coffee, alongside cold drinks, ensuring customers can find a complete meal solution within its stores.
Expanding its reach beyond direct retail, Greggs offers its products to franchise and wholesale partners. This allows for wider distribution of Greggs’ offerings, enabling partners to sell Greggs products in their own outlets, thus broadening the brand’s accessibility to consumers across different regions.
In addition to its direct sales operations, Greggs engages in property holding, non-trading, and trustee businesses. These activities provide a diversified revenue stream and support the company’s core retail operations.
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