HSBC Trims Associated British Foods (ABF) Target Price to GBX 3,250
Associated British Foods (LON:ABF) had its target price trimmed by HSBC from GBX 3,400 ($44.43) to GBX 3,250 ($42.47) in a research report released on Wednesday morning. The brokerage currently has a buy rating on the stock.
Several other brokerages have also recently issued reports on ABF. Kepler Capital Markets boosted their price target on shares of Associated British Foods from GBX 2,600 ($33.97) to GBX 2,800 ($36.59) and gave the company a buy rating in a research report on Wednesday. JPMorgan Chase & Co. reiterated an overweight rating on shares of Associated British Foods in a research report on Wednesday. Barclays reiterated an overweight rating on shares of Associated British Foods in a research report on Wednesday. UBS Group reiterated a buy rating on shares of Associated British Foods in a research report on Tuesday. Finally, Liberum Capital reiterated a buy rating on shares of Associated British Foods in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of GBX 3,023.63 ($39.51).
Shares of LON:ABF opened at GBX 2,638 ($34.47) on Wednesday. Associated British Foods has a 12 month low of GBX 2,476 ($32.35) and a 12 month high of GBX 3,387 ($44.26).
About Associated British Foods
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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