RBC Capital upgrades Cranswick to 'outperform'

26th Jun 2023 09:25

(Sharecast News) - RBC Capital Markets upgraded Cranswick on Monday to 'outperform' from 'sector perform' and hiked the price target to 4,000p from 3,400p.

"We feel increasingly positive about Cranswick's long-term growth opportunities thanks to elevated levels of capex, our confidence in capital allocation post a recent Fresh Pork site visit and its endeavour into Pet Food," RBC said.

"Our estimates assume conservative levels of return on investment and capture pig price headwinds."

Cranswick is a producer and supplier of meat products.