Berenberg raises target for Greggs stock from GBp 2,200 to GBp 2,300

Published on 10/25/2026 at 13:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter like-for-like sales grew 3.4 percent. Greggs stock last traded at GBp 2,298.00 on October 23, 2026, below GBp 2,300.

Greggs trading and broker targets

Greggs posted 7.7 percent total sales growth for the 13 weeks to September 26, 2026.
Berenberg raised its target from GBp 2,200 to GBp 2,300 on October 1, 2026.
Greggs expects its next Q4 trading update on January 14, 2027.
Greggs had a GBP 2.3 billion market capitalization as of October 23, 2026.

Fotorealistische Bäckerei-Filiale mit frischen Backwaren im Schaufenster einer Einzelhandelskette — Greggs plc mit ISIN GB00B0H2K534 betreibt Filialen, ein realistisches Foto zeigt frische Backwaren im Schaufenster, Illustration mit AI erstellt.

Greggs raised its 2026 outlook after stronger third-quarter trading, while Sharecast reported on October 1, 2026 that Berenberg lifted its target for Greggs stock from GBp 2,200 to GBp 2,300. Greggs' total sales rose 7.7 percent in the 13 weeks to September 26, 2026, while company-managed like-for-like sales increased 3.4 percent.

Trading improved through September

The third-quarter update showed like-for-like growth accelerating from 2.1 percent in the first half of 2026 to 3.4 percent in the latest period. Edison said the improvement was driven more by footfall than average transaction value, with volumes close to flat.

Management also reiterated plans for 100 to 110 net new shops in fiscal year 2026. Edison reported 57 net openings year to date on October 1, 2026, leaving the rollout weighted toward the final months of the year.

What does the target increase mean?

Berenberg's higher GBp 2,300 target followed the stronger sales trend and a modestly improved full-year outlook. The broker also raised its fiscal year 2026 like-for-like growth assumption from 2.0 percent to 2.5 percent, according to Sharecast.

Three dates chart the change

On July 29, 2026, Greggs reported quarterly earnings per share of GBp 55.10, according to MarketBeat. On September 26, 2026, total sales reached 7.7 percent growth over the 13-week period. On October 1, 2026, Berenberg raised its target to GBp 2,300.

Next reporting date is January 14

Greggs' investor calendar lists a Q4 trading update for January 14, 2027, providing the next scheduled test of sales momentum and the improved fiscal year 2026 outlook. The company had a GBP 2.3 billion market capitalization as of October 23, 2026, while its primary listing is on the London Stock Exchange.

Restructuring adds a cost test

The improved trading picture is paired with a manufacturing overhaul. Edison said the proposed consolidation involves GBP 60 million of cash costs and is expected to generate GBP 20 million of annual savings from fiscal years 2027 and 2028, leaving execution and cost inflation as material factors in the outlook.

Greggs was last quoted at GBp 2,298.00 on the London Stock Exchange on October 23, 2026 at 4:35 p.m. BST. The further course of trading is shown by the continuously updated real-time quote of Greggs stock.