Associated British Foods plc (ABF) Receives Average Rating of “Buy” from Analysts
Associated British Foods plc (LON:ABF) has received a consensus rating of “Buy” from the twenty analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is GBX 3,126.18 ($40.72).
Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “buy” rating and issued a GBX 3,200 ($41.68) price target on shares of Associated British Foods in a research note on Tuesday, June 26th. Deutsche Bank decreased their price target on shares of Associated British Foods from GBX 3,100 ($40.38) to GBX 3,000 ($39.08) and set a “buy” rating on the stock in a research note on Thursday, August 30th. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research note on Friday, September 7th. UBS Group reissued a “buy” rating on shares of Associated British Foods in a research note on Friday, September 7th. Finally, Barclays raised their price target on shares of Associated British Foods from GBX 3,330 ($43.38) to GBX 3,400 ($44.29) and gave the stock an “overweight” rating in a research note on Friday, June 8th.
Shares of LON:ABF traded down GBX 19 ($0.25) during midday trading on Wednesday, hitting GBX 2,258 ($29.41). The company’s stock had a trading volume of 522,517 shares, compared to its average volume of 972,940. Associated British Foods has a 12-month low of GBX 2,476 ($32.25) and a 12-month high of GBX 3,387 ($44.12).
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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