Greggs Share Discussion Threads

[philanderer] 30/6/2021 00:10

Hi bouleversee , pretty well safe to say somewhere between the two ;-)

[bouleversee] 29/6/2021 10:35

So, who do you think is right, Phil? I doubt if either of them knows any more than you do. I intend to sit tight and wait for events to catch up with the valuation.

[philanderer] 29/6/2021 09:46

Shore Capital salutes Greggs’ ‘exceptional’ bounce-back


An impromptu trading update from Greggs (GRG) shows how strongly the high street baker has bounced back and is pushing Shore Capital to review its recommendation.

However, analyst Clive Black retained his ‘sell’ recommendation on the stock, which closed up 2.9%, or 74p, at £26.34 on Monday. The chain reported positive momentum since its stores had reopened after lockdown which should have a ‘materially positive impact’ on full year results should it continue.

Black said the group had ‘bounced back exceptionally well’ and showed ‘considerable resilience’.

‘Chasing our tail a bit, we shall reintroduce new forecasts for Greggs following publication of its interim results, with a view to measuring how close the stock is trading relative to our estimation of fair value: the shares have been trading on somewhat elevated multiples for some time,’ he said.

‘We shall also review our present “sell” stance at that time.’

[philanderer] 29/6/2021 09:39

JEFFERIES RAISES GREGGS PRICE TARGET TO 3,350 (3,000) PENCE - 'BUY'

[philanderer] 28/6/2021 09:52

Good update.

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Retail analyst Clive Black of Shore Capital said: "Greggs has bounced back exceptionally well, it should be said, and has showed itself to be very much a loved brand by shoppers."

Alliance News

[philanderer] 25/6/2021 10:02

Usually one year from the print.


BERENBERG RAISES GREGGS PRICE TARGET TO 2,950 (2,100) PENCE - 'BUY'

[bouleversee] 14/5/2021 10:26

Which year?

[philanderer] 14/5/2021 10:08

JEFFERIES RAISES GREGGS PRICE TARGET TO 3,000 (2,500) PENCE - 'BUY'

[philanderer] 11/5/2021 13:35

Shore Capital: ‘sell’ Greggs despite strong recovery


A recovery in sales at Greggs (GRG) isn’t enough for Shore Capital to change to a more optimistic outlook on the high street baker, which it believes is overvalued.

Analyst Clive Black reiterated his ‘sell’ recommendation on the stock after sales moved past pre-pandemic levels after the reopening of its stores. The shares closed up 10.5%, or 246p, at £25.91 on Monday.

‘With Greggs stock trading on a financial year 2021 price/earnings ratio of over 25 times, noting state aid, and 2022 and 2023 multiples that are likely to be in the 20-25 times range, we see the stock as somewhat overvalued,’ he said.

Black added that supermarkets are trading on roughly half that multiple and ‘while they do not have the store opening potential of Greggs…the valuation gulf remains a bit too high still to us’.

However, the analyst said ‘hats off’ to the company’s boss Roger Whiteside for ‘the effective engineering of Greggs in an immensely challenging period’.

[bouleversee] 11/5/2021 11:15

And the price drops like a stone, though now recovering a bit.

[philanderer] 11/5/2021 09:55

BARCLAYS RAISES GREGGS PRICE TARGET TO 2,790 (2,600) PENCE - 'OVERWEIGHT'

[bouleversee] 10/5/2021 18:29

I bought at £4.68 in Jan. 2011 how time flies; seems like yesterday) and top ups at £20.84 in Sept. 2019 and £18.83 in Oct. 2019. Glad to see that the latter two are back in profit again. Let's hope they keep rolling along.

[toffeeman] 10/5/2021 16:09

>> Phil
"Greggs has been on a roll"

made me smile

[scepticalinvestor] 10/5/2021 15:40

amazing how all of the so called experts got this wrong. bought in at 1200 and have just kept holdingall were saying dump

[philanderer] 10/5/2021 13:04

Greggs has been on a roll in recent weeks since lockdowns eased, and the bakery chain said profits in 2021 could be materially higher than previous expectations.

The firm’s boss Roger Whiteside said the company is sticking with its expansion plans, and told the Evening Standard that new sites it will open in the capital this year include in Canary Wharf and North Greenwich near the O2.

London Ev Standard

[philanderer] 10/5/2021 12:57

Toffeeman, I've top sliced twice over the last few months but I'm holding on to the rest for the forseeable future :-)

[toffeeman] 10/5/2021 10:53

>> Phil

I rarely rate Questor's advice

and this has broken out to new high

[privileged] 10/5/2021 10:38

Good figuresPE based on 2019 figures looks ridiculously high though for a sandwich retailer. Fully (over) valued??

[philanderer] 10/5/2021 09:26

Impressive :-)

[coldspring] 06/5/2021 09:26

https://www.bbc.co.uk/news/business-56972207Working from home or remotely to become the norm......can't help but think this will further hit the high street footfall.

[philanderer] 27/4/2021 13:12

Questor: Greggs has done nothing wrong. So why are we selling?


Questor share tip: after a strong run and signs that investors’ optimism is waning, now is a good time to take some money off the table

[philanderer] 29/3/2021 10:07

UBS RAISES GREGGS PRICE TARGET TO 2,430 (2,190) PENCE - 'BUY'

[philanderer] 16/3/2021 10:38

Topsliced another 10% this morning.

[chiefbrody] 16/3/2021 08:26

P/E circa 30 (based on 2019) seems a bit high. Surprising I must say but good for long term holders.