Associated British Foods plc (ABF) Receives “Buy” Rating from Deutsche Bank AG
Deutsche Bank AG reissued their buy rating on shares of Associated British Foods plc (LON:ABF) in a report published on Wednesday morning. Deutsche Bank AG currently has a GBX 3,500 ($46.03) target price on the stock.
Several other research analysts also recently commented on the stock. HSBC Holdings plc reissued a buy rating and issued a GBX 3,700 ($48.67) price target on shares of Associated British Foods plc in a report on Friday, July 21st. Macquarie started coverage on shares of Associated British Foods plc in a report on Friday, October 27th. They issued an underperform rating and a GBX 2,900 ($38.14) price target for the company. Liberum Capital reissued a buy rating and issued a GBX 3,150 ($41.43) price target on shares of Associated British Foods plc in a report on Wednesday, August 30th. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a GBX 3,585 ($47.15) price target on shares of Associated British Foods plc in a report on Monday, September 11th. Finally, Credit Suisse Group reaffirmed an outperform rating and set a GBX 3,600 ($47.35) price objective on shares of Associated British Foods plc in a report on Monday, September 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of GBX 3,315.76 ($43.61).
Shares of Associated British Foods plc (LON ABF) traded up GBX 7 ($0.09) during trading hours on Wednesday, reaching GBX 3,112 ($40.93). 1,205,962 shares of the company’s stock traded hands, compared to its average volume of 666,792. Associated British Foods plc has a 1 year low of GBX 2,335 ($30.71) and a 1 year high of GBX 3,387 ($44.55).
Associated British Foods plc (LON:ABF) last announced its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.67) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 125.90 ($1.66) by GBX 1.20 ($0.02). Associated British Foods plc had a net margin of 8.85% and a return on equity of 18.60%. The firm had revenue of GBX 1,535.70 billion during the quarter.
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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