Associated British Foods (ABF) Stock Rating Reaffirmed by Credit Suisse Group
Associated British Foods (LON:ABF)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Credit Suisse Group in a report issued on Wednesday. They currently have a GBX 3,700 ($50.18) price target on the stock. Credit Suisse Group’s target price indicates a potential upside of 30.97% from the company’s current price.
Several other equities analysts have also weighed in on the stock. Royal Bank of Canada restated a “sector performer” rating and set a GBX 3,100 ($42.04) target price on shares of Associated British Foods in a report on Monday, January 8th. Deutsche Bank restated a “buy” rating and set a GBX 3,500 ($47.46) target price on shares of Associated British Foods in a report on Tuesday, January 2nd. Liberum Capital restated a “buy” rating and set a GBX 3,500 ($47.46) target price on shares of Associated British Foods in a report on Tuesday, December 19th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 3,600 ($48.82) price target on shares of Associated British Foods in a research note on Tuesday, December 5th. Finally, Morgan Stanley downgraded shares of Associated British Foods to an “equal weight” rating and lifted their price target for the stock from GBX 2,800 ($37.97) to GBX 3,100 ($42.04) in a research note on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of GBX 3,395.90 ($46.05).
Associated British Foods (LON ABF) traded up GBX 7 ($0.09) during trading hours on Wednesday, hitting GBX 2,825 ($38.31). 1,896,862 shares of the company traded hands, compared to its average volume of 869,344. The firm has a market cap of $22,360.00 and a price-to-earnings ratio of 1,858.55. 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 related news, insider John Bason sold 21,716 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of GBX 3,043 ($41.27), for a total transaction of £660,817.88 ($896,145.76).
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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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