Associated British Foods (LON:ABF) Earns “Buy” Rating from Liberum Capital
Liberum Capital reaffirmed their buy rating on shares of Associated British Foods (LON:ABF) in a research report sent to investors on Monday, Digital Look reports. The brokerage currently has a GBX 3,070 ($40.11) price objective on the stock.
Several other research firms have also weighed in on ABF. Credit Suisse Group reaffirmed an outperform rating on shares of Associated British Foods in a report on Wednesday, July 3rd. Barclays reaffirmed an overweight rating and issued a GBX 3,400 ($44.43) target price on shares of Associated British Foods in a report on Friday, July 5th. Royal Bank of Canada lowered their target price on shares of Associated British Foods from GBX 3,000 ($39.20) to GBX 2,900 ($37.89) and set an outperform rating on the stock in a report on Thursday, June 6th. UBS Group reaffirmed a buy rating on shares of Associated British Foods in a report on Friday, September 6th. Finally, Berenberg Bank reissued a buy rating and set a GBX 2,800 ($36.59) price objective on shares of Associated British Foods in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Associated British Foods currently has a consensus rating of Buy and an average price target of GBX 2,886.83 ($37.72).
ABF opened at GBX 2,263 ($29.57) on Monday. The firm’s 50-day simple moving average is GBX 2,333.24 and its 200-day simple moving average is GBX 2,409.30. The company has a debt-to-equity ratio of 8.60, a quick ratio of 0.89 and a current ratio of 1.73. Associated British Foods has a twelve month low of GBX 2,011 ($26.28) and a twelve month high of GBX 2,659 ($34.74). The firm has a market cap of $17.91 billion and a price-to-earnings ratio of 19.54.
About Associated British Foods
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, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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