The investment banking arm of Barclays has topped up the list of small- and mid-cap stocks (SMIDs) to reflect changing trends going into 2024 - adding four food companies to its 'universe'.
It has initiated coverage of Cranswick PLC (LSE:CWK), the sausage maker, with an 'overweight' recommendation and £45.80 share price target. At the same time, it has set 'equal weight' calls for Greencore Group PLC (LSE:GNC) and Premier Foods shares with stock price valuations of £1.10 and £1.40 respectively.
"We see the UK consumer continuing to prioritise value, at-home consumption, and high-quality products. Across the three names, our preference is Cranswick," Barclays said in a note to clients.