MARK HODGES | EDISON INVESTMENT RESEARCH
We had an encouraging interim statement from Greggs. Sales comparables strengthened in the second half, but the company continues to expect to make solid progress, and the risk of further cost inflation is reducing. We continue to like the stock and have a fair value of 597p.
DARREN SHIRLEY | SHORE CAPITAL
Greggs’ surprise trading update confirmed robust trading had been sustained through the first half, resulting in upgrades to full-year expectations. We upgrade our full-year pre-tax profit forecast by around six per cent to £46.4m, which we expect to be at the upper end of market expectations.
Sahill Shan | N+1 Singer Equity Research
There is good news on like-for-like sales, overall cost control and input cost inflation for the second half. In short, the update is supportive of the investment case… Admittedly, it will be lapping some of the self-help initiatives and stronger comparatives in the second half, but we feel Greggs is on the front foot.