Associated British Foods (ABF) PT Lowered to GBX 2,950
Associated British Foods (LON:ABF) had its target price lowered by equities researchers at Credit Suisse Group from GBX 3,300 ($42.99) to GBX 2,950 ($38.43) in a report released on Tuesday. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price target indicates a potential upside of 32.35% from the company’s current price.
A number of other equities analysts also recently commented on ABF. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research note on Friday, July 6th. Barclays lowered their target price on shares of Associated British Foods from GBX 3,340 ($43.51) to GBX 3,280 ($42.73) and set an “overweight” rating for the company in a research note on Tuesday. Kepler Capital Markets lowered their target price on shares of Associated British Foods from GBX 3,000 ($39.08) to GBX 2,600 ($33.87) and set a “buy” rating for the company in a research note on Tuesday. UBS Group reiterated a “buy” rating on shares of Associated British Foods in a research note on Friday, September 7th. Finally, Liberum Capital reiterated a “buy” rating and set a GBX 3,500 ($45.59) target price on shares of Associated British Foods in a research note on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of GBX 3,158.95 ($41.15).
Shares of ABF stock opened at GBX 2,229 ($29.03) on Tuesday. Associated British Foods has a 12 month low of GBX 2,476 ($32.25) and a 12 month high of GBX 3,387 ($44.12).
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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