Greggs shares are currently attracting diverse opinions from City analysts, with forecasts for the next 12 months ranging from a significant increase to a notable decline. On September 28, 2026, the share price stood at £18.61, following a period of strong performance for the bakery chain.
Just days earlier, on September 24, 2026, Greggs stock closed at £19.84 on the London Stock Exchange, marking a 1.2 percent fall. This occurred as wider UK shares declined amid increasing inflation concerns driven by higher oil prices and rising government bond yields, as reported by Reuters.
Analyst Outlook on Greggs Share Price
A group of 16 analysts currently offers varied predictions for Greggs’ future share price. The most optimistic forecast suggests a leap from £18.61 to £22.10 over the next 12 months, representing an 18.8% increase. Conversely, another broker predicts the stock could fall to £13.30, a 28.5% reversal from current levels.
Looking at the average of all 16 analysts, the broker consensus indicates Greggs shares are expected to trade at £17.90 a year from now, implying a 3.8% decline from the September 28th price. It is important for investors to remember that analyst forecasts do not guarantee future performance, as noted by The Twelfth Magpie.
Recent Performance and Business Growth
Greggs has recently shown strong market performance, with its shares rocketing 25.7% over the past six months. This comfortably outpaces the FTSE 250 index of mid-cap growth shares, which saw gains roughly five times smaller over the same period. This performance was bolstered by a robust first-half trading update in July.
The company’s sales strengthened in the first half of the year, recording a 2.1% increase on a like-for-like basis. Operating profit also saw a significant boost, rising 22.9%, attributed to strict cost controls and factors such as new product launches. Greggs continues to expand its market share and overall volumes, supported by growth in its store estate and the development of new channels, including grocery retail. However, hotter-than-usual weather did impact demand for hot goods during this period.
Future Strategy and Market Position
Looking ahead, Greggs plans to increase its store numbers from the current 2,773 to approximately 3,500 over time. Future openings are set to focus on more profitable sites, particularly in travel locations. New production and distribution facilities are also in place to support this expansion.
The baker currently trades on a forward price-to-earnings (P/E) ratio of 14.9 times, which is below its 10-year average of 22–23 times, according to The Twelfth Magpie. Despite these growth prospects, the company faces challenges from rising inflation, which could put fresh strain on consumer spending.
Wider Market Context on September 24, 2026
On September 24, 2026, Greggs stock traded within a session range of £19.71 to £20.16 before closing at £19.84. This closing price was £0.32 below its session high. The broader UK equity market experienced a downturn on the same day, with the FTSE 100 closing down 0.8 percent. As AD HOC NEWS reported, this market fall was influenced by higher oil prices and rising government bond yields, which intensified inflation concerns. Ongoing Middle East fighting and stalled US-Iran talks also contributed to the broader economic backdrop.
