UK's Greggs drops after Jefferies downgrades to 'hold', cuts PT

Greggs

09/02/2026 08:23

** British baker and fast-food chain Gregg's shares GRG.L down 3.5% at 1621p

** Jefferies downgrades to "hold" from "buy", cuts PT to 1,610p from 2,500p

** "We are increasingly of the view that rapid uptake of  GLP‑1 weight‑loss drugs is impacting Greggs" - Jefferies

** "We think Greggs remains high quality, but the more  muted outlook drives our downgrade," brokerage says

 (Reporting by Sri Hari N S in Bengaluru)

 ((Srihari.ns@thomsonreuters.com))