Associated British Foods (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $41.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 10.24% from the stock’s previous close.

According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “

A number of other equities research analysts have also recently commented on ASBFY. Morgan Stanley cut Associated British Foods from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 28th. Barclays raised Associated British Foods from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 16th. Finally, Goldman Sachs Group cut Associated British Foods from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $41.00.

Shares of Associated British Foods (OTCMKTS ASBFY) traded up $0.15 during trading on Tuesday, reaching $37.19. The company’s stock had a trading volume of 23,620 shares, compared to its average volume of 9,361. The company has a quick ratio of 0.98, a current ratio of 1.65 and a debt-to-equity ratio of 0.07. Associated British Foods has a 12-month low of $30.51 and a 12-month high of $45.22.

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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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