Associated British Foods (ABF) Earns “Buy” Rating from Deutsche Bank
Associated British Foods (LON:ABF)‘s stock had its “buy” rating reaffirmed by stock analysts at Deutsche Bank in a research note issued on Friday. They presently have a GBX 3,500 ($47.46) target price on the stock. Deutsche Bank’s price target suggests a potential upside of 27.27% from the company’s previous close.
A number of other equities analysts also recently weighed in on the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 3,600 ($48.82) target price on shares of Associated British Foods in a research note on Friday. Shore Capital restated a “buy” rating on shares of Associated British Foods in a research note on Friday. Liberum Capital restated a “buy” rating and issued a GBX 3,500 ($47.46) target price on shares of Associated British Foods in a research note on Thursday. Barclays upgraded Associated British Foods to an “overweight” rating and upped their price objective for the company from GBX 3,290 ($44.62) to GBX 3,380 ($45.84) in a research note on Tuesday, January 16th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a GBX 3,700 ($50.18) price objective on shares of Associated British Foods in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. Associated British Foods presently has a consensus rating of “Buy” and an average target price of GBX 3,439.37 ($46.64).
Associated British Foods (ABF) opened at GBX 2,750 ($37.29) on Friday. Associated British Foods has a 12 month low of GBX 2,335 ($31.67) and a 12 month high of GBX 3,387 ($45.93). The firm has a market capitalization of $21,770.00 and a P/E ratio of 1,809.21.
In other news, insider John Bason sold 21,716 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of GBX 3,043 ($41.27), for a total value of £660,817.88 ($896,145.76).
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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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