Associated British Foods plc’s (ABF) “Buy” Rating Reaffirmed at Liberum Capital
Liberum Capital reaffirmed their buy rating on shares of Associated British Foods plc (LON:ABF) in a research report sent to investors on Friday. They currently have a GBX 3,500 ($45.69) price target on the stock.
Several other analysts have also recently weighed in on ABF. Morgan Stanley cut Associated British Foods plc to an equal weight rating and dropped their price target for the stock from GBX 3,500 ($45.69) to GBX 2,650 ($34.59) in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. reissued a sell rating and set a GBX 2,600 ($33.94) price target on shares of Associated British Foods plc in a report on Monday, June 27th. Societe Generale reissued a hold rating on shares of Associated British Foods plc in a report on Tuesday, June 28th. Berenberg Bank raised Associated British Foods plc to a buy rating and dropped their price target for the stock from GBX 3,450 ($45.03) to GBX 2,760 ($36.03) in a report on Tuesday, June 28th. Finally, HSBC dropped their price target on 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 report on Thursday, June 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of GBX 3,054.29 ($39.87).
Associated British Foods plc (LON:ABF) opened at 2605.00 on Friday. The stock’s market capitalization is GBX 20.57 billion. 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 firm’s 50-day moving average is GBX 2,892.22 and its 200-day moving average is GBX 2,977.57.
In related news, insider Hauser,Wolfhart bought 2,000 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were purchased at an average price of GBX 2,659 ($34.71) per share, for a total transaction of £53,180 ($69,416.53). Also, insider Reid ,Richard bought 3,347 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were bought at an average price 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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