Berenberg raised target for Greggs stock to GBp 2,300

Published on 10/20/2026 at 13:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Berenberg lifted its Greggs target to GBp 2,300 on October 1, 2026. Greggs stock costs EUR 27.88 at Lang & Schwarz on October 20, 2026.

Berenberg changes its valuation view

Berenberg raised its Greggs target from GBp 2,200 to GBp 2,300 on October 1, 2026.
Third-quarter total sales increased 7.70 percent in the 13 weeks to September 26, 2026.
Greggs stock trades at EUR 27.88 at 1:17 p.m. CEST at Lang & Schwarz on October 20, 2026.
Greggs lists its next Q4 trading update for January 14, 2027.

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) stock was indicated at EUR 27.88 by Lang & Schwarz on October 20, 2026, at 1:17 p.m. CEST. Sharecast reported on October 1, 2026, that Berenberg had raised its target for Greggs from GBp 2,200 to GBp 2,300.

Sales growth supports the target

Greggs' latest operating update showed total sales up 7.70 percent in the 13 weeks to September 26, 2026. Company-managed shop like-for-like sales rose 3.40 percent, accelerating from 2.10 percent in the first half.

The same update said total sales for the first 39 weeks of 2026 increased 7.40 percent, while like-for-like sales rose 2.60 percent. Greggs also reported 95 openings and 38 closures year to date, leaving 57 net new shops and 2,796 locations at September 26.

What does the target imply?

Berenberg's GBp 2,300 target sits above the latest primary-market quote of GBp 2,322 only when the two figures are viewed on different reporting moments, so the target does not provide a straightforward upside signal. MarketBeat said the October 1 note maintained a Buy rating and recorded seven analyst ratings overall, including three Buys, three Holds and one Sell.

Three dates frame the story

On July 29, 2026, Greggs reported quarterly earnings per share of GBp 55.10, according to The Cerbat Gem. On September 30, 2026, the company released its third-quarter update, and on October 1, 2026, Berenberg lifted its target to GBp 2,300.

Which dates come next?

Greggs' investor calendar lists January 14, 2027, for its Q4 trading update on the company's investor page. The date gives investors the next scheduled checkpoint for sales, shop openings and the manufacturing program.

Stock price and valuation context

Greggs has proposed consolidating its manufacturing operations, a plan that could close four sites and affect 740 roles. The September 30 update said the proposal would require cash costs of GBP 60.0 million, while the company expected a modestly improved outcome for 2026.

Greggs' primary listing is on the London Stock Exchange, where the finance quote showed GBp 2,322 at 12:22 p.m. London time on October 20, 2026. The 52-week range was GBp 1,407.20 to GBp 2,350.00 on that date.

Greggs stock was trading at EUR 27.88 at Lang & Schwarz on October 20, 2026, at 1:17 p.m. CEST.

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