…and some to hold, avoid or sell

Cake Box The Mail on Sunday

Sales and profits are up at the egg-free, cream cake-maker, and potential franchisee demand is strong. Shares, up 37% since July 2018, are ripe for profit-taking, but you should hold “at least two-thirds”. Hold. 188p.

Greggs The Times

The high-street baker was hit hard by Covid, reporting its first loss as a listed company, some £65.2m. But Greggs has adapted quickly: opening takeaway and delivery services and stepping up its online presence. Hold. £17.99.

Imperial Brands The Daily Telegraph

The tobacco firm has “hopes of better times” – with a new CEO, revamped management and falling debt. Dangers abound amid regulatory pressure, but cash flow is improving and Imps yields 9.3%. Hold. £14.78.

Royal Mail Investors Chronicle

Booming online shopping has boosted Royal Mail’s parcel delivery service. But pension charges, asset impairments, soaring costs and a history of union opposition doesn’t inspire confidence. Sell. 308p.

SSE The Daily Telegraph

The energy utility’s firsthalf profits fell 26%, but disposals are generating cash and its aim to treble output from renewable sources by 2030 is well-aligned with government policy. Yields 6%. Hold. £13.61.

Tullow Oil The Times

The explorer has been “brought to its knees” by disappointing discoveries and an oil price crash. It has cut costs – but production is down, prospects uninspiring and the debt situation is “precarious”. Avoid. 32.15p.