Associated British Foods plc’s (ABF) “Buy” Rating Reiterated at Liberum Capital
Associated British Foods plc (LON:ABF)‘s stock had its “buy” rating reaffirmed by stock analysts at Liberum Capital in a research note issued to investors on Monday. They presently have a GBX 3,600 ($47.95) price target on the stock. Liberum Capital’s price objective would indicate a potential upside of 14.08% from the stock’s current price.
A number of other equities research analysts have also weighed in on the stock. Goldman Sachs Group Inc. raised shares of Associated British Foods plc to a “neutral” rating and raised their price target for the company from GBX 2,475 ($32.96) to GBX 3,100 ($41.29) in a report on Tuesday, September 6th. Berenberg Bank lowered shares of Associated British Foods plc to a “hold” rating and raised their price target for the company from GBX 2,760 ($36.76) to GBX 3,000 ($39.96) in a report on Wednesday, August 31st. Deutsche Bank AG reiterated a “buy” rating and set a GBX 3,200 ($42.62) price objective on shares of Associated British Foods plc in a research note on Wednesday, August 31st. Royal Bank Of Canada upgraded shares of Associated British Foods plc to an “outperform” rating and increased their price objective for the company from GBX 2,800 ($37.29) to GBX 3,400 ($45.29) in a research note on Tuesday, August 30th. Finally, Kepler Capital Markets assumed coverage on shares of Associated British Foods plc in a research note on Wednesday, August 24th. They set a “reduce” rating and a GBX 2,700 ($35.96) price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of GBX 3,126.48 ($41.64).
Associated British Foods plc (LON:ABF) traded down 10.90% during midday trading on Monday, hitting GBX 2812.00. 2,143,824 shares of the stock traded hands. Associated British Foods plc has a one year low of GBX 1,910.00 and a one year high of GBX 3,606.00. The company’s market cap is GBX 22.21 billion. The company’s 50-day moving average is GBX 2,938.03 and its 200-day moving average is GBX 3,046.61.
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In other Associated British Foods plc news, insider Hauser,Wolfhart acquired 2,000 shares of the stock in a transaction dated Thursday, July 7th. The shares were bought at an average price of GBX 2,659 ($35.42) per share, with a total value of £53,180 ($70,831.11). Also, insider Bason,John acquired 469 shares of the stock in a transaction dated Friday, July 1st. The stock was acquired at an average cost of GBX 2,733 ($36.40) per share, for a total transaction of £12,817.77 ($17,072.15).
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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