Published On: Fri, Sep 23rd, 2016

Associated British Foods plc (ABF) Upgraded to “Add” at Numis Securities Ltd

Associated British Foods plc (LON:ABF) was upgraded by equities research analysts at Numis Securities Ltd to an “add” rating in a research report issued to clients and investors on Friday. The brokerage presently has a GBX 3,000 ($39.16) target price on the stock, up from their prior target price of GBX 2,942 ($38.40). Numis Securities Ltd’s price objective indicates a potential upside of 10.86% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. Royal Bank Of Canada raised shares of Associated British Foods plc to a ” sector perform” rating and reduced their price objective for the stock from GBX 3,200 ($41.77) to GBX 2,700 ($35.24) in a research report on Monday, July 11th. HSBC reduced their price objective on shares of Associated British Foods plc from GBX 3,770 ($49.21) to GBX 3,300 ($43.08) and set a “buy” rating for the company in a research report on Thursday, June 30th. Berenberg Bank raised shares of Associated British Foods plc to a “buy” rating and reduced their price objective for the stock from GBX 3,450 ($45.03) to GBX 2,760 ($36.03) in a research report on Tuesday, June 28th. Liberum Capital reissued a “buy” rating and set a GBX 3,600 ($46.99) target price on shares of Associated British Foods plc in a research report on Tuesday, July 5th. Finally, Investec reduced their target price on shares of Associated British Foods plc from GBX 3,800 ($49.60) to GBX 2,750 ($35.90) and set a “buy” rating for the company in a research report on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of GBX 3,059.05 ($39.93).
Associated British Foods plc (LON:ABF) opened at 2685.00 on Friday. The company has a 50-day moving average of GBX 2,940.73 and a 200-day moving average of GBX 3,004.91. Associated British Foods plc has a 52 week low of GBX 1,910.00 and a 52 week high of GBX 3,606.00. The company’s market capitalization is GBX 21.21 billion.

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In other Associated British Foods plc news, insider Bason,John bought 469 shares of Associated British Foods plc stock in a transaction that occurred on Friday, July 1st. The shares were bought at an average price of GBX 2,733 ($35.67) per share, with a total value of £12,817.77 ($16,731.20). Also, insider Reid ,Richard bought 3,347 shares of Associated British Foods plc stock in a transaction that occurred on Wednesday, July 13th. The shares were acquired at an average cost of GBX 2,820 ($36.81) per share, for a total transaction of £94,385.40 ($123,202.45).
Associated British Foods plc Company Profile
Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The Company operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. The Company operates in five segments, including Sugar, Agriculture, Retail, Grocery and Ingredients.

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