Greggs plc : The momentum is likely to go on
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 1,017.05 | GBX 0 | GBX 978 | -100% |
Thomson Reuters’ consensus EPS estimates were revised upward over the last year. Indeed, EPS are expected to increase of about 30%. The company has an excelent Surperformance rating. The recent earnings release was enjoyed by investors as the net income was 10% above estimates.
Technically, for the past 6 months the trend is largely upward. Moving averages help the stock to keep rising. Many gaps were observed during the last months. They give the share a global momentum.
Investors could buy the security at current prices as the quote is now beyond the pivot point. A very brief consolidation might eventually occur. If such a thing happens, it would then allow the share to reach the GBp 1095.72 threshold. A stop loss should be set at GBp 978.