Credit Suisse Group AG Reaffirms Outperform Rating for Associated British Foods plc (ABF)
Associated British Foods plc (LON:ABF)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse Group AG in a research note issued on Thursday. They currently have a GBX 3,550 ($46.34) price objective on the stock. Credit Suisse Group AG’s price target would suggest a potential upside of 32.61% from the company’s current price.
Other research analysts have also issued reports about the company. Barclays PLC reissued an “equal weight” rating and issued a GBX 2,800 ($36.55) price objective on shares of Associated British Foods plc in a research report on Friday, July 8th. HSBC reissued a “buy” rating and issued a GBX 3,300 ($43.08) price objective on shares of Associated British Foods plc in a research report on Wednesday, August 10th. Berenberg Bank lowered Associated British Foods plc to a “hold” rating and raised their price objective for the company from GBX 2,760 ($36.03) to GBX 3,000 ($39.16) in a research report on Wednesday, August 31st. Societe Generale reaffirmed a “hold” rating on shares of Associated British Foods plc in a research report on Tuesday, June 28th. Finally, Liberum Capital reaffirmed a “buy” rating and set a GBX 3,600 ($46.99) target price on shares of Associated British Foods plc in a research report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of GBX 3,056.29 ($39.89).
Shares of Associated British Foods plc (LON:ABF) opened at 2690.00 on Thursday. The firm’s 50-day moving average price is GBX 2,940.81 and its 200 day moving average price is GBX 3,007.42. The stock’s market capitalization is GBX 21.25 billion. Associated British Foods plc has a 1-year low of GBX 1,910.00 and a 1-year high of GBX 3,606.00.
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In other Associated British Foods plc news, insider Hauser,Wolfhart purchased 2,000 shares of the business’s stock in a transaction dated Thursday, July 7th. The shares were bought at an average price of GBX 2,659 ($34.71) per share, with a total value of £53,180 ($69,416.53). Also, insider Reid ,Richard purchased 3,347 shares of the business’s stock in a transaction dated Wednesday, July 13th. The shares were acquired at an average cost of GBX 2,820 ($36.81) per share, for a total transaction of £94,385.40 ($123,202.45).
Associated British Foods plc Company Profile
Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The Company operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. The Company operates in five segments, including Sugar, Agriculture, Retail, Grocery and Ingredients.
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