Greggs has issued a solid trading statement, successfully navigating tough comps and difficult trading conditions in March and April for the retail/leisure sector to report 3.7% LFL sales growth after 18 weeks. There is also positive commentary around various other key issues. We make no forecast changes but continue to see upside risk. We expect today’s update to act as a catalyst to reverse YTD share price weakness and advocate fair value towards 1200p on >10% TSR considerations.
09 May 2016
Morning Song
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Morning Song
Greggs plc (GRG:LON) | 2,740 -438.4 (-0.6%) | Mkt Cap: 2,802m
- Published:
09 May 2016 -
Author:
N+1 Singer Team -
Pages:
7
Greggs has issued a solid trading statement, successfully navigating tough comps and difficult trading conditions in March and April for the retail/leisure sector to report 3.7% LFL sales growth after 18 weeks. There is also positive commentary around various other key issues. We make no forecast changes but continue to see upside risk. We expect today’s update to act as a catalyst to reverse YTD share price weakness and advocate fair value towards 1200p on >10% TSR considerations.