Market's view on Greggs
Published on April 2024
- Berenberg has reduced Greggs’ price target from 3,550 pence to 3,390 pence but maintains a ‘buy’ status.
- Greggs is scheduled to release its first quarter trading update on 14 May 2024.
- Stock watchers noted fluctuations in Greggs’ stock price with significant daily changes, attributing these to external influences like geopolitical tensions.
- Plans to open six additional, cheaper outlet stores across the UK have been announced by Greggs.
- A collaboration between Greggs and Capital Breakfast will introduce a new, limited edition bacon roll.
- Comparison made between Wenzels and Greggs, highlighting the smaller scale of Wenzels with its 100 outlets versus Greggs’ number of new annual shop openings.
- Due to increased incidents of theft and attacks on staff, Greggs is trialing body cameras in its busiest stores.
- Greggs’ directors have engaged in recent purchases and share options.
- A competitor bakery is reportedly expanding with nine new locations across the UK.
- Greggs now accounts for £2 of every £100 spent in UK hospitality and about 20% of breakfast-to-go visits.
- Greggs has updated its spring menu with improved recipes on fan favourites.
- Economic challenges like volatile consumer demand and weather impacts are affecting retailers including Greggs.
- An IT outage at Greggs led to temporary closures of stores in major cities due to payment issues.
- Barclays has raised the price target for Greggs from 3,080 pence to 3,335 pence with an ‘overweight’ rating.