Published On: Mon, Sep 12th, 2016

Associated British Foods plc (ABF) Upgraded to Buy at Deutsche Bank AG

Associated British Foods plc (LON:ABF) was upgraded by equities research analysts at Deutsche Bank AG to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a GBX 3,200 ($42.62) target price on the stock, up from their prior target price of GBX 3,000 ($39.96). Deutsche Bank AG’s price objective indicates a potential upside of 1.39% from the stock’s current price.
ABF has been the subject of several other reports. HSBC decreased their price objective on shares of Associated British Foods plc from GBX 3,770 ($50.21) to GBX 3,300 ($43.95) and set a “buy” rating for the company in a research note on Thursday, June 30th. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 2,800 ($37.29) price objective on shares of Associated British Foods plc in a research note on Monday, July 18th. Societe Generale reiterated a “hold” rating on shares of Associated British Foods plc in a research note on Tuesday, June 28th. Liberum Capital reiterated a “buy” rating and set a GBX 3,880 ($51.68) price objective on shares of Associated British Foods plc in a research note on Monday, May 9th. Finally, Numis Securities Ltd upgraded shares of Associated British Foods plc to a “hold” rating and upped their target price for the company from GBX 2,800 ($37.29) to GBX 3,145 ($41.89) in a research note on Thursday, April 21st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 3,126.48 ($41.64).
Associated British Foods plc (LON:ABF) traded down 0.50% on Monday, reaching GBX 3155.72. 961,431 shares of the company’s stock were exchanged. Associated British Foods plc has a 1-year low of GBX 1,910.00 and a 1-year high of GBX 3,606.00. The firm’s market capitalization is GBX 24.92 billion. The stock’s 50 day moving average price is GBX 2,938.03 and its 200 day moving average price is GBX 3,046.61.

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In related news, insider Hauser,Wolfhart bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was purchased at an average price of GBX 2,659 ($35.42) per share, for a total transaction of £53,180 ($70,831.11). Also, insider Reid ,Richard bought 3,347 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was bought at an average price of GBX 2,820 ($37.56) per share, with a total value of £94,385.40 ($125,713.11).
About Associated British Foods plc
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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