JPMorgan Chase & Co. Reaffirms “Overweight” Rating for Associated British Foods plc (ABF)
Associated British Foods plc (LON:ABF)‘s stock had its “overweight” rating restated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Monday. They presently have a GBX 3,300 ($43.95) target price on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 21.71% from the company’s previous close.
ABF has been the subject of several other reports. HSBC dropped their price target on Associated British Foods plc from GBX 3,770 ($50.21) to GBX 3,300 ($43.95) and set a “buy” rating for the company in a research note on Thursday, June 30th. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 2,800 ($37.29) price target on shares of Associated British Foods plc in a research note on Monday, July 18th. Kepler Capital Markets began coverage on Associated British Foods plc in a research note on Wednesday, August 24th. They set a “reduce” rating and a GBX 2,700 ($35.96) price target for the company. Societe Generale restated a “hold” rating on shares of Associated British Foods plc in a research note on Tuesday, June 28th. Finally, Goldman Sachs Group Inc. upgraded Associated British Foods plc to a “neutral” rating and upped their price target for the stock from GBX 2,475 ($32.96) to GBX 3,100 ($41.29) in a research note on Tuesday, September 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. The stock currently 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 2711.4067 on Monday. 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 market cap is GBX 21.42 billion. The company’s 50-day moving average price is GBX 2,941.08 and its 200 day moving average price is GBX 3,025.83.
In other Associated British Foods plc news, insider Reid ,Richard bought 3,347 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were purchased at an average cost of GBX 2,820 ($37.56) per share, for a total transaction of £94,385.40 ($125,713.11). Also, insider Hauser,Wolfhart bought 2,000 shares of the stock in a transaction that occurred on Thursday, July 7th. The stock was acquired at an average price 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.