Associated British Foods plc (ABF) Price Target Raised to GBX 3,500
Associated British Foods plc (LON:ABF) had its target price lifted by analysts at Jefferies Group LLC from GBX 3,100 ($40.33) to GBX 3,500 ($45.53) in a note issued to investors on Tuesday. The firm presently has a “buy” rating on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 18.64% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Liberum Capital restated a “buy” rating and set a GBX 3,100 ($40.33) price objective on shares of Associated British Foods plc in a research report on Wednesday, April 19th. Goldman Sachs Group Inc raised their price objective on Associated British Foods plc from GBX 3,000 ($39.03) to GBX 3,200 ($41.63) and gave the stock a “buy” rating in a research report on Thursday, May 18th. Numis Securities Ltd restated a “hold” rating and set a GBX 2,923 ($38.03) price objective on shares of Associated British Foods plc in a research report on Friday, April 21st. HSBC Holdings plc raised their price objective on Associated British Foods plc from GBX 3,350 ($43.58) to GBX 3,700 ($48.13) and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Associated British Foods plc in a research report on Tuesday, February 28th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of GBX 3,091.56 ($40.22).
Associated British Foods plc (LON:ABF) opened at 2950.00 on Tuesday. Associated British Foods plc has a 1-year low of GBX 1,910.00 and a 1-year high of GBX 3,183.00. The firm’s market cap is GBX 23.31 billion. The stock’s 50 day moving average is GBX 2,798.37 and its 200-day moving average is GBX 2,642.39.
The business also recently disclosed a dividend, which will be paid on Friday, July 7th. Investors of record on Thursday, June 8th will be paid a GBX 11.35 ($0.15) dividend. This represents a dividend yield of 0.41%. The ex-dividend date of this dividend is Thursday, June 8th.
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Associated British Foods plc Company Profile
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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