Associated British Foods (ABF) Receives Buy Rating from Shore Capital
A number of other research firms have also recently issued reports on ABF. Jefferies Financial Group reiterated a buy rating and set a GBX 3,200 ($41.28) price objective on shares of Associated British Foods in a research report on Tuesday, June 26th. Royal Bank of Canada upgraded shares of Associated British Foods to an outperform rating and upped their price target for the company from GBX 2,800 ($36.12) to GBX 3,100 ($39.99) in a research report on Monday, June 18th. Goldman Sachs Group cut shares of Associated British Foods to a neutral rating and decreased their price target for the company from GBX 3,100 ($39.99) to GBX 3,000 ($38.70) in a research report on Thursday, May 24th. Liberum Capital restated a buy rating on shares of Associated British Foods in a research report on Thursday, July 5th. Finally, Barclays upped their price target on shares of Associated British Foods from GBX 3,330 ($42.96) to GBX 3,400 ($43.86) and gave the company an overweight rating in a research report on Friday, June 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of GBX 3,243.24 ($41.84).
ABF stock opened at GBX 2,270 ($29.28) on Friday. Associated British Foods has a 1 year low of GBX 2,476 ($31.94) and a 1 year high of GBX 3,387 ($43.69).
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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