UK's Greggs rises as JP Morgan initiates coverage at 'overweight'

Greggs

05/12/2025 08:47

** Shares of British bakery and fast-food chain Greggs GRG.L up 6.48% at 1,699 p

** Among top pct gainers on FTSE mid cap index .FTMC

** JP Morgan initiates coverage with "overweight" rating, sets PT at 2110 p

** Brokerage says GRG  looks well positioned to" "weather the current storm" in the UK as other convenience stores and retailers struggle

** GRG screens well in terms of unit economics with higher sales , profitability per square feet high return on invested capital - JPM

** JPM forecast 3,000 stores by 2030 and capital returns above the market expectations for GRG

** 8 of 15 brokerages rate the stock "buy" or higher, 5 "hold" and 2 "sell"; their median PT is 1,860 p - LSEG data

** Up to Thursday's close, stock had fallen 42.93%

(Reporting by Simone Lobo in Bengaluru)

((Simone.Lobo@thomsonreuters.com, +919920570373))