Liberum Capital Reaffirms “Buy” Rating for Associated British Foods plc (ABF)
Associated British Foods plc (LON:ABF)‘s stock had its “buy” rating reissued by Liberum Capital in a report released on Monday. They presently have a GBX 3,500 ($45.69) price target on the stock. Liberum Capital’s price target indicates a potential upside of 38.44% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. Goldman Sachs Group Inc. upgraded Associated British Foods plc to a “neutral” rating and raised their price target for the company from GBX 2,475 ($32.31) to GBX 3,100 ($40.46) in a report on Tuesday, September 6th. Kepler Capital Markets assumed coverage on Associated British Foods plc in a report on Wednesday, August 24th. They set a “reduce” rating and a GBX 2,700 ($35.24) price target for the company. Deutsche Bank AG restated a “buy” rating and set a GBX 3,200 ($41.77) price target on shares of Associated British Foods plc in a report on Monday, September 19th. Numis Securities Ltd upgraded Associated British Foods plc to an “add” rating and raised their price target for the company from GBX 2,942 ($38.40) to GBX 3,000 ($39.16) in a report on Friday, September 23rd. Finally, BNP Paribas restated an “outperform” rating and set a GBX 3,300 ($43.08) price target on shares of Associated British Foods plc in a report on Tuesday, September 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 3,054.29 ($39.87).
Associated British Foods plc (LON:ABF) opened at 2509.00 on Monday. The company’s 50 day moving average price is GBX 2,836.69 and its 200-day moving average price is GBX 2,949.37. Associated British Foods plc has a one year low of GBX 1,910.00 and a one year high of GBX 3,606.00. The company’s market cap is GBX 19.82 billion.
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In related news, insider Reid ,Richard purchased 3,347 shares of Associated British Foods plc stock in a transaction dated Wednesday, July 13th. The stock was purchased at an average cost of GBX 2,820 ($36.81) per share, with a total value 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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