RBC Capital upgrades Cranswick to 'outperform'
Cranswick
4,860.00p
16:35 23/12/24
-1.62%
-80.00p
RBC Capital Markets upgraded Cranswick on Monday to ‘outperform’ from ‘sector perform’ and hiked the price target to 4,000p from 3,400p.
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"We feel increasingly positive about Cranswick's long-term growth opportunities thanks to elevated levels of capex, our confidence in capital allocation post a recent Fresh Pork site visit and its endeavour into Pet Food," RBC said.
"Our estimates assume conservative levels of return on investment and capture pig price headwinds."
Cranswick is a producer and supplier of meat products.