Jefferies Group Reiterates “Hold” Rating for Associated British Foods plc (ABF)
Associated British Foods plc (LON:ABF)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group in a report issued on Wednesday. They presently have a GBX 2,450 ($30.35) target price on the stock. Jefferies Group’s price objective would suggest a potential downside of 3.66% from the company’s previous close.
Several other brokerages have also recently issued reports on ABF. Royal Bank Of Canada restated an “outperform” rating and set a GBX 3,300 ($40.88) price objective on shares of Associated British Foods plc in a research note on Monday, September 19th. Credit Suisse Group AG restated an “outperform” rating and set a GBX 3,550 ($43.97) price objective on shares of Associated British Foods plc in a research note on Tuesday, August 16th. Deutsche Bank AG restated a “buy” rating and set a GBX 3,200 ($39.64) price objective on shares of Associated British Foods plc in a research note on Wednesday, August 31st. Citigroup Inc. raised their price objective on Associated British Foods plc from GBX 2,600 ($32.21) to GBX 3,000 ($37.16) and gave the stock a “neutral” rating in a research note on Thursday, September 15th. Finally, Liberum Capital reaffirmed a “buy” rating and issued a GBX 3,500 ($43.35) target price on shares of Associated British Foods plc in a research report on Friday, September 30th. Fourteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Associated British Foods plc has a consensus rating of “Hold” and an average price target of GBX 3,042.38 ($37.69).
Associated British Foods plc (LON:ABF) opened at 2558.00 on Wednesday. The firm’s market capitalization is GBX 20.24 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 has a 50-day moving average of GBX 2,536.24 and a 200 day moving average of GBX 2,806.73.
The company also recently announced a dividend, which will be paid on Friday, January 13th. Investors of record on Thursday, December 15th will be paid a dividend of GBX 26.45 ($0.33) per share. The ex-dividend date is Thursday, December 15th. This represents a yield of 1%. This is a boost from Associated British Foods plc’s previous dividend of $10.30.
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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