Shares of Associated British Foods plc (LON:ABF) reached a new 52-week high during mid-day trading on Friday after Credit Suisse Group raised their price target on the stock from GBX 3,350 to GBX 3,600. Credit Suisse Group currently has an outperform rating on the stock. Associated British Foods plc traded as high as GBX 3,343 ($43.24) and last traded at GBX 3,319 ($42.93), with a volume of 538,698 shares traded. The stock had previously closed at GBX 3,322 ($42.96).

Several other analysts have also issued reports on ABF. HSBC Holdings plc increased their price target on shares of Associated British Foods plc from GBX 3,350 ($43.33) to GBX 3,700 ($47.85) and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) increased their price target on shares of Associated British Foods plc from GBX 3,000 ($38.80) to GBX 3,200 ($41.39) and gave the stock a “buy” rating in a research report on Thursday, May 18th. Jefferies Group LLC increased their price target on shares of Associated British Foods plc from GBX 3,100 ($40.09) to GBX 3,500 ($45.27) and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Deutsche Bank AG reiterated a “buy” rating and set a GBX 3,200 ($41.39) price target on shares of Associated British Foods plc in a research report on Wednesday, June 7th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a GBX 3,300 ($42.68) price target on shares of Associated British Foods plc in a research report on Tuesday, June 27th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Associated British Foods plc presently has a consensus rating of “Buy” and a consensus price target of GBX 3,217.20 ($41.61).

The firm’s market capitalization is GBX 26.22 billion. The stock’s 50-day moving average is GBX 3,080.05 and its 200-day moving average is GBX 2,855.68.

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Associated British Foods plc Company Profile

Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.

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