Panmure Liberum upgrades Greggs stock to Buy

Published on 10/05/2026 at 10:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The target moved to GBp 2,440 from GBp 1,560. Greggs stock costs EUR 24.03 on October 5, 2026 after EUR 24.00, plus 0.13 percent.

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 (ISIN GB00B63QSB39) was trading at EUR 24.03 at Lang & Schwarz on October 5, 2026 at 10:36 a.m. CEST, up 0.13 percent versus the prior close of EUR 24.00. Panmure Liberum upgraded Greggs from hold to buy and lifted its price target from GBp 1,560 to GBp 2,440 after the bakery chain's third-quarter update on October 1, 2026, according to Sharecast.

Third-quarter sales accelerate

Greggs reported total sales growth of 7.70 percent in the 13 weeks to September 26, 2026, while like-for-like sales in company-managed shops rose 3.40 percent. The like-for-like rate accelerated from 2.10 percent in the first half of 2026, giving the trading update a stronger sales profile than the preceding period, according to Sharecast.

Management now expects a modestly improved outcome for 2026. Greggs also maintained its plan for 100 to 110 net new shops during 2026, while 95 openings and 38 closures had been recorded by September 26, 2026, according to Yahoo Finance.

Factory plan targets future savings

Greggs is proposing to close four manufacturing sites, with 740 roles potentially affected over the next two and a half years. The plan carries cash costs of GBP 60 million and is expected to generate GBP 20 million in annual pre-tax cash savings across 2028 and 2029, according to Business Matters.

The savings depend on a manufacturing network overhaul rather than immediate shop closures. Greggs said its retail estate would not be affected, while its new distribution capacity is intended to support at least 3,500 shops, according to Business Matters.

Stock stays near the latest close

Greggs was last shown at GBp 1,988.00 on the London Stock Exchange on October 1, 2026. The euro quote from Lang & Schwarz stood at EUR 24.03 on October 5, 2026 at 10:36 a.m. CEST, with the daily move calculated against the EUR 24.00 prior close. Greggs' investor calendar lists its fourth-quarter trading update for January 14, 2027, on the company's investor relations page. The further course of trading is shown by the continuously updated real-time quote of Greggs stock.