Barclays PLC Reaffirms “Equal Weight” Rating for Associated British Foods plc (ABF)
Associated British Foods plc (LON:ABF)‘s stock had its “equal weight” rating reaffirmed by equities researchers at Barclays PLC in a research report issued on Friday. They presently have a GBX 3,050 ($39.81) price target on the stock. Barclays PLC’s price objective would indicate a potential upside of 19.33% from the company’s previous close.
A number of other research analysts have also recently issued reports on the company. Goldman Sachs Group Inc. reissued a “sell” rating and issued a GBX 2,600 ($33.94) target price on shares of Associated British Foods plc in a research note on Monday, June 27th. Royal Bank Of Canada raised Associated British Foods plc to an “outperform” rating and boosted their target price for the company from GBX 2,800 ($36.55) to GBX 3,400 ($44.38) in a research note on Tuesday, August 30th. Morgan Stanley cut Associated British Foods plc to an “equal weight” rating and decreased their target price for the company from GBX 3,500 ($45.69) to GBX 2,650 ($34.59) in a research note on Wednesday, June 22nd. BNP Paribas reissued an “outperform” rating and issued a GBX 3,300 ($43.08) target price on shares of Associated British Foods plc in a research note on Wednesday, August 3rd. Finally, Societe Generale reissued a “hold” rating on shares of Associated British Foods plc in a research note on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 3,054.29 ($39.87).
Associated British Foods plc (LON:ABF) traded down 2.00% during mid-day trading on Friday, reaching GBX 2505.00. The company’s stock had a trading volume of 1,490,641 shares. The stock’s market cap is GBX 19.79 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 company has a 50 day moving average of GBX 2,836.69 and a 200-day moving average of GBX 2,949.37.
In other Associated British Foods plc news, insider Reid ,Richard acquired 3,347 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were purchased 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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