Panmure Liberum upgrades Greggs stock to Buy at GBp 2,440
Published on 10/13/2026 at 03:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS- Panmure Liberum upgraded Greggs to Buy and raised its target from GBp 1,560 to GBp 2,440 on October 1, 2026.
- Third-quarter total sales grew 7.70 percent and like-for-like sales rose 3.40 percent in the 13 weeks to September 26, 2026.
- The proposed factory restructuring carries GBP 60 million of costs and targets GBP 20 million in annual pretax savings.
- Greggs was last at EUR 25.20 at Lang & Schwarz on October 12, 2026, while its LSE price was GBp 2,130.
Panmure Liberum upgraded Greggs stock to Buy from Hold and raised its target from GBp 1,560 to GBp 2,440 on October 1, 2026, according to Proactive. Greggs (ISIN GB00B63QSB39) was last at EUR 25.20 at Lang & Schwarz on October 12, 2026 at 11:00 p.m. CEST.
Third-quarter sales accelerated
Greggs reported total sales growth of 7.70 percent in the 13 weeks to September 26, 2026. Company-managed like-for-like sales rose 3.40 percent, up from 2.10 percent in the first half, while the company retained its plan for 100 to 110 net new shops in 2026, Proactive reported on October 1, 2026.
The operating trend also appears in Greggs' shop count. Quartr recorded 95 openings and 38 closures in the year to September 26, leaving 57 net additions and 2,796 shops at the period end.
What does the factory reset mean?
The proposed manufacturing consolidation could close four sites and affect 740 roles. The plan carries a GBP 60 million cash cost and is designed to generate GBP 20 million of annual pretax savings across the 2028 and 2029 financial years, Yahoo Finance reported on September 30, 2026.
That timing makes the restructuring a delayed earnings lever rather than an immediate margin boost. Greggs still expects like-for-like cost inflation of 2.00 percent in 2026, while management has flagged greater inflationary pressure in 2027, according to Proactive.
Stock stays below its yearly high
On the LSE, Greggs was last at GBp 2,130 on October 12, 2026. That level was 0.75 percent below the 52-week high of GBp 2,146 and 51.46 percent above the 52-week low of GBp 1,407.20, keeping the share price close to the top of its annual range.
Greggs' investor calendar lists its next Q4 trading update for January 14, 2027, on the company's investor-relations page. The scheduled update should provide the next quantified test of sales momentum, shop openings and the cost outlook.
The further course of trading is shown by the continuously updated real-time quote of Greggs stock.
Greggs stock facts
- Company: Greggs plc
- ISIN: GB00B63QSB39
- Ticker: GRG.L
- Primary exchange: LSE
- Last price Lang & Schwarz (as of October 12, 2026, 11:00 p.m. CEST): EUR 25.20
- Market capitalization: GBP 2.2 billion (as of October 12, 2026)
- 52-week range: GBp 1,407.20-2,146.00 (as of October 12, 2026)
- Sector / Industry: Consumer Discretionary / Restaurants
- Index membership: FTSE 100
- Next earnings date: January 14, 2027
Market context: Market report FTSE 100.
