Associated British Foods plc (ABF) Rating Lowered to Underperform at Jefferies Group
Jefferies Group downgraded shares of Associated British Foods plc (LON:ABF) to an underperform rating in a research report sent to investors on Tuesday morning. The brokerage currently has GBX 2,300 ($30.63) target price on the stock, down from their previous target price of GBX 2,600 ($34.63).
A number of other research analysts have also issued reports on the company. Goldman Sachs Group Inc. reaffirmed a sell rating and set a GBX 2,600 ($34.63) target price on shares of Associated British Foods plc in a report on Monday, June 27th. Royal Bank Of Canada raised Associated British Foods plc to an outperform rating and lifted their target price for the stock from GBX 2,800 ($37.29) to GBX 3,400 ($45.29) in a report on Tuesday, August 30th. Morgan Stanley lowered Associated British Foods plc to an equal weight rating and lowered their target price for the stock from GBX 3,500 ($46.62) to GBX 2,650 ($35.30) in a report on Wednesday, June 22nd. BNP Paribas reaffirmed an outperform rating and set a GBX 3,300 ($43.95) target price on shares of Associated British Foods plc in a report on Wednesday, August 3rd. Finally, Societe Generale reaffirmed a hold rating on shares of Associated British Foods plc in a report on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of GBX 3,061.05 ($40.77).
Shares of Associated British Foods plc (LON:ABF) opened at 2730.00 on Tuesday. Associated British Foods plc has a 52-week low of GBX 1,910.00 and a 52-week high of GBX 3,606.00. The company’s 50-day moving average is GBX 2,941.08 and its 200-day moving average is GBX 3,025.83. The firm’s market cap is GBX 21.56 billion.
In other Associated British Foods plc news, insider Bason,John purchased 469 shares of the company’s stock in a transaction on Friday, July 1st. The shares were bought at an average cost of GBX 2,733 ($36.40) per share, with a total value of £12,817.77 ($17,072.15). Also, insider Hauser,Wolfhart purchased 2,000 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was acquired at an average cost of GBX 2,659 ($35.42) per share, for a total transaction of £53,180 ($70,831.11).
About Associated British Foods plc
Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The Company operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. The Company operates in five segments, including Sugar, Agriculture, Retail, Grocery and Ingredients.
Receive News & Ratings for Associated British Foods plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated British Foods plc and related companies with Analyst Ratings Network's FREE daily email newsletter.