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

Published on 10/27/2026 at 13:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Greggs lifts its 2026 outlook after Q3 sales rose 7.7 percent on September 30, 2026. Greggs stock costs EUR 28.05 on October 27, 2026.

Broker target and trading update

Berenberg raised its Greggs target from GBp 2,200 to GBp 2,300 on October 1, 2026.
Third-quarter total sales increased 7.7 percent in the 13 weeks to September 26, 2026.
Greggs stock traded at EUR 28.05 at 1:19 p.m. CEST at Lang & Schwarz on October 27, 2026.

Greggs, GB00B63QSB39, Illustration mit AI erstellt.

Greggs (ISIN GB00B63QSB39) stock was at EUR 28.05 at Lang & Schwarz on October 27, 2026, while Berenberg had raised its target from GBp 2,200 to GBp 2,300 on October 1, 2026. The broker move followed a stronger third-quarter trading update and a modestly improved full-year outlook.

Berenberg lifts its target

According to Hargreaves Lansdown on October 1, 2026, Berenberg lifted its Greggs target to GBp 2,300 from GBp 2,200. The broker also raised its fiscal-year 2026 like-for-like sales growth assumption to 2.5 percent from 2.0 percent and increased its underlying earnings forecast by 4 percent.

The target revision followed Greggs' September 30 trading update, which pointed to improved trading and continued cost control. The company maintained its plan for 100 to 110 net new shops in 2026, alongside 12 Greggs Express installations.

What does the update mean for costs?

FT.com reported the company said third-quarter 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. Year-to-date total sales were up 7.4 percent and like-for-like sales rose 2.6 percent.

The same update proposed consolidating manufacturing operations across four sites, potentially affecting 740 roles. Greggs said the program would carry cash costs of GBP 60 million and could produce annual pre-tax operating savings of GBP 20 million across fiscal years 2028 and 2029.

Three dated Greggs milestones

QSR Media reported that Greggs posted GBP 56.20 million of profit after tax for the 26 weeks ended June 27, 2026. On September 30, 2026, the company reported 7.7 percent third-quarter sales growth and a 3.4 percent like-for-like increase. On October 1, 2026, Berenberg raised its target to GBp 2,300.

Next scheduled company date

Greggs' next Q4 trading update is scheduled for January 14, 2027, according to the company's investor calendar. That date will provide the next reported checkpoint for sales, store openings and the manufacturing program.

Greggs stock at the latest quote

Greggs is a United Kingdom food-to-go retailer with 2,796 shops reported at September 26, 2026. Its expansion plan supports sales growth, while the proposed manufacturing changes add a measurable cost and execution factor.

The stock was trading at EUR 28.05 at Lang & Schwarz on October 27, 2026 at 1:19 p.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Greggs stock.