Associated British Foods plc (ASBFY) Receives Consensus Recommendation of “Buy” from Analysts
Associated British Foods plc (NASDAQ:ASBFY) has received an average rating of “Buy” from the fourteen ratings firms that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $40.00.
ASBFY has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Associated British Foods plc from a “hold” rating to a “sell” rating in a report on Friday, January 6th. Numis Securities Ltd downgraded shares of Associated British Foods plc from a “buy” rating to an “add” rating in a report on Thursday, January 12th. HSBC Holdings plc reaffirmed a “buy” rating on shares of Associated British Foods plc in a report on Sunday, January 15th. BNP Paribas downgraded shares of Associated British Foods plc from a “neutral” rating to an “underperform” rating in a report on Thursday, January 26th. Finally, Goldman Sachs Group Inc raised shares of Associated British Foods plc from a “neutral” rating to a “buy” rating in a report on Saturday, March 18th.
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Associated British Foods plc (NASDAQ:ASBFY) traded down 0.149% during midday trading on Tuesday, hitting $36.795. 413 shares of the company traded hands. The company has a market capitalization of $29.07 billion and a price-to-earnings ratio of 20.718. Associated British Foods plc has a 12-month low of $29.84 and a 12-month high of $45.82. The stock’s 50-day moving average price is $33.74 and its 200 day moving average price is $32.60.
About Associated British Foods plc
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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