Associated British Foods (ABF) Rating Reiterated by Shore Capital
Associated British Foods (LON:ABF)‘s stock had its “buy” rating reiterated by equities researchers at Shore Capital in a research report issued on Friday.
A number of other analysts have also recently issued reports on the company. Deutsche Bank restated a “buy” rating and set a GBX 3,500 ($47.46) price objective on shares of Associated British Foods in a research report on Tuesday, October 24th. Macquarie started coverage on Associated British Foods in a research report on Friday, October 27th. They set an “underperform” rating and a GBX 2,900 ($39.33) price objective on the stock. Morgan Stanley cut Associated British Foods to an “equal weight” rating and boosted their price objective for the company from GBX 2,800 ($37.97) to GBX 3,100 ($42.04) in a research report on Tuesday, November 28th. Credit Suisse Group boosted their price objective on Associated British Foods from GBX 3,600 ($48.82) to GBX 3,700 ($50.18) and gave the company an “outperform” rating in a research report on Monday, November 20th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 3,600 ($48.82) price objective on shares of Associated British Foods in a research report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 3,439.37 ($46.64).
Shares of Associated British Foods (LON:ABF) opened at GBX 2,750 ($37.29) on Friday. The stock has a market capitalization of $21,770.00 and a P/E ratio of 1,809.21. Associated British Foods has a 1 year low of GBX 2,335 ($31.67) and a 1 year high of GBX 3,387 ($45.93).
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 ($41.27), for a total value of £660,817.88 ($896,145.76).
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Associated British Foods Company Profile
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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