GATELEY

P 120 14 May 113 118 116 114 112 8 May 9 May 10 May 13 May 14 May

Professional services firm Gateley reported revenue increased by around 5.7 per cent in a pre-close trading update. It expects pretax profit to be no less than £22.8m, lower than last year as the firm made a £4.5m provision for employee bonuses. "This is below market expectations," analysts at Peel Hunt said, who described the update as disappointing. They maintained a 'Hold' rating with a target price of 160p.

P

GREGGS 2,840 2,820 2,800 2,780 2,760 2,740 14 May 2,766 8 May 9 May 10 May 13 May 14 May

After an extremely strong start to FY24, Greggs has performed a "shade slower" in the last 10 weeks, analysts at Peel Hunt said. "The shares are at the top end of their trading range, so the absence of an upgrade may have a short-term impact," the analysts said. The shares are trading at over 20x PE, which suggests they are "fully valued". The stock was rated a 'Hold' with a target price of 2,500p.

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