Associated British Foods (ABF) Stock Rating Reaffirmed by Deutsche Bank
Associated British Foods (LON:ABF)‘s stock had its “buy” rating reissued by analysts at Deutsche Bank in a report issued on Tuesday. They presently have a GBX 3,500 ($47.11) target price on the stock. Deutsche Bank’s price target points to a potential upside of 25.04% from the stock’s current price.
Several other equities analysts have also issued reports on the company. Macquarie started coverage on Associated British Foods in a research report on Friday, October 27th. They issued an “underperform” rating and a GBX 2,900 ($39.03) price objective for the company. Liberum Capital reaffirmed a “buy” rating and set a GBX 3,150 ($42.40) price target on shares of Associated British Foods in a research report on Wednesday, August 30th. Goldman Sachs Group reaffirmed a “buy” rating and set a GBX 3,585 ($48.25) price target on shares of Associated British Foods in a research report on Monday, September 11th. Morgan Stanley downgraded Associated British Foods to an “equal weight” rating and upped their price target for the stock from GBX 2,800 ($37.69) to GBX 3,100 ($41.72) in a research report on Tuesday, November 28th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 3,600 ($48.45) price target on shares of Associated British Foods in a research report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of GBX 3,395.90 ($45.71).
Associated British Foods (LON ABF) opened at GBX 2,799 ($37.67) on Tuesday. Associated British Foods has a 12-month low of GBX 2,335 ($31.43) and a 12-month high of GBX 3,387 ($45.59).
In other Associated British Foods news, insider John Bason sold 21,716 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($40.96), for a total value of £660,817.88 ($889,391.49).
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About Associated British Foods
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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