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Edison Investment Research

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Leading International Investment Research, Edison Investment Research

Equity Bottom-Up

<p>Greggs' trading update confirmed that it delivered a stronger than expected finish to FY16, leaving it well placed to face the margin pressures that will affect the entire industry in FY17. We expect only modest changes to FY17 estimates when FY16 results are released and therefore continue to value the shares at 1,189p.</p>

Greggs' trading update confirmed that it delivered a stronger than expected finish to FY16, leaving it well placed to face the margin pressures that will affect the entire industry in FY17. We expect only modest changes to FY17 estimates when FY16 results are released and therefore continue to value the shares at 1,189p.

Greggs PLC

Better-than-expected FY16

Greggs PLC

Better&#45;than&#45;expected FY16

Better-than-expected FY16