Berenberg raises target price on Cranswick
Cranswick
5,020.00p
16:34 30/09/24
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.
Food Producers & Processors
8,041.21
16:34 30/09/24
FTSE 250
21,053.19
16:40 30/09/24
FTSE 350
4,553.82
16:34 30/09/24
FTSE All-Share
4,511.00
16:59 30/09/24
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.
Reporting by Iain Gilbert at Sharecast.com