I don''t want to be a wet blanket but saw this in on my ARN site today - caution needed at moment: Greggs (LON: GRG) was downgraded by analysts at Espirito Santo Investment Bank Research from a "neutral" rating to a "sell" rating. They now have a GBX 340 ($5.22) price target on the stock, down previously from GBX 450 ($6.90).
13 May '13
Share price appears to have steadied for now. Need a good performance at the AGM to convince me they are going the right way. Greggs rent a lot of space and a quick check on foot fall 1pm in Newcastle last Weds/Thurs/ Friday where there is one of every corner suggested some doing well and others need a rethink. I know just a snapshot but if I was near empty at 1pm on Thurs/Friday when queuing 20 deep 400 yrds away at another Greggs I would consider dropping/reinventing poorest % of stores and increasing staff at the premium stores where they were struggling to cope with pasty chompers. Still think this is a sound business.
I tend to do a few buys towards the bottom, dripping in. Been caught out to many times waiting for a number that never arrives or buying all and taking a hit. Held off today as gone below my 400p but will see about topping up tomorrow depending which way this goes. Still think this is a good price to come in.
1 May '13
I am in.
Does not look like will drop much further. Just put a buy in. If goes below 400p will top up again. But agree this will recover and a nice discount.
29 Apr '13
Buy buy buy
Buy on fear and a fall! Absolute bargain at this price! The SP is well undertake value.... You will also notice over the past few years when profit was down, the SP dropped 10% and re-bound back within a week. I'm in! No brainer!!!!
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