Jefferies hikes target price on Greggs following recent rally

(Sharecast News) - Analysts at Jefferies hiked their target price on bakery chain Greggs from 1,610p to 1,740p on Friday, stating they had been "surprised by the extent of the rally" in its share price since its, "admittedly very robust", interim results. Jefferies, which has a 'hold' rating on the stock, stated the rally was particularly surprising given the slower like-for-like exit rate and ongoing negative volumes.

"We remain wary of the headwind from weight-loss drugs, and believe that oral GLP-1's could accentuate volume pressures," added Jefferies.







Reporting by Iain Gilbert at Sharecast.com