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

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Associated British Foods plc (LON:ABF) was upgraded by equities researchers at Numis Securities Ltd to an “add” rating in a report issued 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 points to a potential upside of 10.86% from the stock’s previous close.
A number of other research analysts have also issued reports on ABF. Beaufort Securities reiterated a “hold” rating on shares of Associated British Foods plc in a report on Friday, July 8th. Citigroup Inc. lifted their target price on Associated British Foods plc from GBX 2,600 ($33.94) to GBX 3,000 ($39.16) and gave the company a “neutral” rating in a report on Thursday, September 15th. BNP Paribas reiterated an “outperform” rating and issued a GBX 3,300 ($43.08) target price on shares of Associated British Foods plc in a report on Tuesday, September 13th. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 3,200 ($41.77) target price on shares of Associated British Foods plc in a report on Tuesday, September 13th. Finally, Liberum Capital reiterated a “buy” rating and issued a GBX 3,600 ($46.99) target price on shares of Associated British Foods plc in a report on Tuesday, July 5th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently 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 2688.00 on Friday. 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 firm’s market capitalization is GBX 21.23 billion. The stock has a 50 day moving average price of GBX 2,940.73 and a 200-day moving average price of GBX 3,004.91.

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In other Associated British Foods plc news, insider Reid ,Richard acquired 3,347 shares of the stock in a transaction on Wednesday, July 13th. The shares were bought at an average price of GBX 2,820 ($36.81) per share, with a total value of £94,385.40 ($123,202.45). Also, insider Bason,John acquired 469 shares of the stock in a transaction on Friday, July 1st. The stock was acquired at an average cost of GBX 2,733 ($35.67) per share, for a total transaction of £12,817.77 ($16,731.20).
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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