Associated British Foods plc (ABF) Stock Rating Reaffirmed by Royal Bank Of Canada
Associated British Foods plc (LON:ABF)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Monday. They currently have a GBX 3,300 ($43.08) price target on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 21.64% from the stock’s current price.
A number of other brokerages have also commented on ABF. Credit Suisse Group AG reissued an “outperform” rating and set a GBX 3,550 ($46.34) price target on shares of Associated British Foods plc in a report on Monday, July 4th. Investec lowered their price target on Associated British Foods plc from GBX 3,800 ($49.60) to GBX 2,750 ($35.90) and set a “buy” rating on the stock in a report on Friday, July 8th. Deutsche Bank AG reissued a “buy” rating and set a GBX 3,200 ($41.77) price target on shares of Associated British Foods plc in a report on Wednesday, August 31st. Citigroup Inc. raised their target price on Associated British Foods plc from GBX 2,600 ($33.94) to GBX 3,000 ($39.16) and gave the company a “neutral” rating in a research note on Thursday, September 15th. Finally, Beaufort Securities reaffirmed a “hold” rating on shares of Associated British Foods plc in a research note on Friday, July 8th. Two equities 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 stock presently has a consensus rating of “Hold” and an average target price of GBX 3,056.29 ($39.89).
Associated British Foods plc (LON:ABF) opened at 2713.00 on Monday. The firm’s market cap is GBX 21.43 billion. Associated British Foods plc has a 1-year low of GBX 1,910.00 and a 1-year high of GBX 3,606.00. The stock’s 50 day moving average is GBX 2,942.68 and its 200-day moving average is GBX 3,011.69.
In other Associated British Foods plc news, insider Reid ,Richard bought 3,347 shares of the stock in a transaction on Wednesday, July 13th. The shares were purchased at an average price of GBX 2,820 ($36.81) per share, with a total value of £94,385.40 ($123,202.45). Also, insider Hauser,Wolfhart bought 2,000 shares of the stock in a transaction on Thursday, July 7th. The stock was acquired at an average cost of GBX 2,659 ($34.71) per share, for a total transaction of £53,180 ($69,416.53).
Associated British Foods plc Company Profile
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.
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