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Greggs PLC - Newcastle-upon-Tyne-based bakery chain - Davy initiates at ’outperform’ - price target 1,730 pence. Davy believes a recent decline in the Greggs share price has been ‘excessive’, even if prompted by ‘structural pressures’. ‘While a return to prior peak multiples is unlikely, evidence of stabilising earnings momentum and continued execution of the estate-led growth strategy could support a gradual re-rating in line with returns recovery,’ Davy adds. It notes the price target implies an upside of around 19%. ‘Greggs combines owned manufacturing with a national retail estate to deliver speed, value and consistency across expanding dayparts and product categories. Recent years of peak capex are set to lift production and distribution capacity, which will support the next leg of its growth journey,’ Davy adds. Current stock price: 1,539.00 pence, up 4.7% on Wednesday afternoon in London 12-month change: down 43% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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