Associated British Foods plc (ABF) Rating Increased to Buy at Societe Generale
Associated British Foods plc (LON:ABF) was upgraded by Societe Generale to a “buy” rating in a report issued on Thursday. The brokerage presently has a GBX 3,150 ($39.02) price target on the stock, up from their prior price target of GBX 2,820 ($34.93). Societe Generale’s price objective points to a potential upside of 22.43% from the stock’s current price.
A number of other equities analysts also recently weighed in on the stock. HSBC reissued a “buy” rating and set a GBX 3,300 ($40.88) target price on shares of Associated British Foods plc in a research note on Wednesday, August 10th. Jefferies Group reissued a “hold” rating and set a GBX 2,450 ($30.35) target price on shares of Associated British Foods plc in a research note on Wednesday. Kepler Capital Markets raised shares of Associated British Foods plc to a “hold” rating and set a GBX 2,700 ($33.44) target price for the company in a research note on Wednesday. BNP Paribas reissued an “outperform” rating and set a GBX 3,300 ($40.88) target price on shares of Associated British Foods plc in a research note on Wednesday, August 3rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a GBX 2,800 ($34.68) target price on shares of Associated British Foods plc in a research note on Monday, July 18th. Fourteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of GBX 3,042.38 ($37.69).
Shares of Associated British Foods plc (LON:ABF) opened at 2531.00 on Thursday. The firm’s 50-day moving average is GBX 2,540.84 and its 200 day moving average is GBX 2,808.57. The company’s market capitalization is GBX 19.99 billion. Associated British Foods plc has a 12 month low of GBX 1,910.00 and a 12 month high of GBX 3,606.00.
The firm also recently disclosed a dividend, which will be paid on Friday, January 13th. Stockholders of record on Thursday, December 15th will be issued a dividend of GBX 26.45 ($0.33) per share. This is a boost from Associated British Foods plc’s previous dividend of $10.30. This represents a dividend yield of 1%. The ex-dividend date is Thursday, December 15th.
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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