Deutsche Bank Reiterates “Buy” Rating for Associated British Foods (ABF)
Associated British Foods (LON:ABF)‘s stock had its “buy” rating reaffirmed by equities researchers at Deutsche Bank in a research note issued to investors on Tuesday. They currently have a GBX 3,500 ($47.11) price target on the stock. Deutsche Bank’s target price would indicate a potential upside of 22.29% from the stock’s current price.
Several other brokerages have also commented on ABF. Jefferies Group reissued a “buy” rating and set a GBX 3,600 ($48.45) price objective on shares of Associated British Foods in a research report on Thursday, October 19th. Macquarie began coverage on Associated British Foods in a research report on Friday, October 27th. They set an “underperform” rating and a GBX 2,900 ($39.03) price objective for the company. Liberum Capital reissued a “buy” rating and set a GBX 3,150 ($42.40) price objective on shares of Associated British Foods in a research report on Tuesday, November 7th. reissued a “buy” rating and set a GBX 3,700 ($49.80) price objective on shares of Associated British Foods in a research report on Thursday, November 2nd. Finally, Credit Suisse Group raised their price objective on Associated British Foods from GBX 3,350 ($45.09) to GBX 3,600 ($48.45) and gave the company an “outperform” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Associated British Foods currently has a consensus rating of “Buy” and a consensus target price of GBX 3,395.90 ($45.71).
Associated British Foods (LON:ABF) opened at GBX 2,862 ($38.52) on Tuesday. Associated British Foods has a 52-week low of GBX 2,335 ($31.43) and a 52-week high of GBX 3,387 ($45.59).
In related news, insider John Bason sold 21,716 shares of Associated British Foods stock in a transaction dated Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($40.96), for a total value of £660,817.88 ($889,391.49).
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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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