Associated British Foods’ (ABF) Overweight Rating Reiterated at Barclays
Associated British Foods (LON:ABF)‘s stock had its “overweight” rating reissued by Barclays in a report issued on Tuesday. They currently have a GBX 3,380 ($47.39) price objective on the stock. Barclays’ price objective would suggest a potential upside of 28.57% from the company’s previous close.
Several other brokerages have also commented on ABF. Liberum Capital reissued a “buy” rating and set a GBX 3,500 ($49.07) price target on shares of Associated British Foods in a research note on Monday, December 11th. Deutsche Bank reissued a “buy” rating and set a GBX 3,500 ($49.07) price target on shares of Associated British Foods in a research note on Tuesday, November 21st. Morgan Stanley lowered Associated British Foods to an “equal weight” rating and boosted their price target for the stock from GBX 2,800 ($39.26) to GBX 3,100 ($43.47) in a research note on Tuesday, November 28th. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 3,600 ($50.48) price target on shares of Associated British Foods in a research note on Friday, January 19th. Finally, reissued a “buy” rating and set a GBX 3,700 ($51.88) price target on shares of Associated British Foods in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of GBX 3,439.37 ($48.22).
Shares of Associated British Foods (LON ABF) opened at GBX 2,629 ($36.86) on Tuesday. The company has a market capitalization of $20,820.00 and a P/E ratio of 1,729.61. Associated British Foods has a 52 week low of GBX 2,391 ($33.52) and a 52 week high of GBX 3,387 ($47.49).
In other Associated British Foods news, insider John Bason sold 21,716 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($42.67), for a total value of £660,817.88 ($926,553.39).
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About Associated British Foods
Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.
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