Analysts at Berenberg raised their target price on food production company Cranswick from 5,312.0p to 5,674.0p on Monday, stating structural factors were driving trading strength.
Cranswick
30 September 2024 16:08:15
Source: Sharecast
Berenberg, which also reiterated its 'buy' rating on the stock, noted that Cranswick has upgraded its FY25E earnings expectations on the strength of volume-driven growth that it has delivered throughout Q225.
"The strength of trading across FY 2025 is reflective of lasting structural factors, in our view – namely its significant exposure to outperforming domestic grocers and its ability to invest in capability advancement at rates ahead of peers," said Berenberg.
The German bank said it continues to see Cranswick as a "top pick" from within its coverage and expect that these structural factors will deliver further outperformance.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
