Associated British Foods plc (ABF) Price Target Raised to GBX 3,500
Associated British Foods plc (LON:ABF) had its price target upped by analysts at Deutsche Bank AG from GBX 3,300 ($42.62) to GBX 3,500 ($45.20) in a research report issued on Friday. The brokerage presently has a “buy” rating on the stock. Deutsche Bank AG’s target price suggests a potential upside of 7.20% from the stock’s current price.
Several other research analysts have also recently weighed in on the stock. HSBC Holdings plc reissued a “buy” rating on shares of Associated British Foods plc in a report on Wednesday. J P Morgan Chase & Co reissued an “overweight” rating and set a GBX 3,300 ($42.62) price objective on shares of Associated British Foods plc in a report on Wednesday. Credit Suisse Group boosted their price objective on shares of Associated British Foods plc from GBX 3,350 ($43.26) to GBX 3,600 ($46.49) and gave the company an “outperform” rating in a report on Friday, September 1st. Goldman Sachs Group, Inc. (The) boosted their price objective on shares of Associated British Foods plc from GBX 3,330 ($43.01) to GBX 3,585 ($46.30) and gave the company a “buy” rating in a report on Thursday, August 31st. Finally, Jefferies Group LLC boosted their price objective on shares of Associated British Foods plc from GBX 3,500 ($45.20) to GBX 3,600 ($46.49) and gave the company a “buy” rating in a report on Wednesday, August 30th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of GBX 3,230.53 ($41.72).
Associated British Foods plc (LON ABF) traded down 0.79% on Friday, reaching GBX 3265.00. 977,378 shares of the company traded hands. The stock’s 50-day moving average is GBX 3,132.81 and its 200-day moving average is GBX 2,881.09. The stock’s market capitalization is GBX 25.80 billion. Associated British Foods plc has a 1-year low of GBX 2,335.00 and a 1-year high of GBX 3,343.00.
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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