Broker Jefferies has resumed coverage of Greencore Group PLC (LON:GNC) with a ‘buy’ rating and 245p price target.
The renewed coverage followed a period of restriction as a result of a recent tender offer which completed at the end of January, the broker said, adding that its forecasts were unchanged down to the pre-tax profit level.
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The price target reflected unchanged target enterprise value/underlying earnings (EBITDA) ratios, said analysts.
In early afternoon trading Tuesday, Greencore shares were up 5.6% at 201.7p.