Associated British Foods (ASBFY) Lifted to “Buy” at Zacks Investment Research
Associated British Foods (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $43.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.73% 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. “
ASBFY has been the topic of several other research reports. Goldman Sachs Group downgraded Associated British Foods from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. Morgan Stanley downgraded Associated British Foods from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Associated British Foods has an average rating of “Hold” and an average target price of $43.00.
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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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