Associated British Foods plc (NASDAQ:ASBFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $49.00 price target on the stock. Zacks Investment Research‘s target price points to a potential upside of 14.06% from the stock’s current price.

According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “

Separately, Kepler Capital Markets upgraded Associated British Foods plc from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $49.00.

Shares of Associated British Foods plc (NASDAQ:ASBFY) traded down 0.85% on Friday, hitting $42.96. 6,731 shares of the stock traded hands. Associated British Foods plc has a 12 month low of $29.84 and a 12 month high of $43.81. The firm’s 50 day moving average is $41.36 and its 200-day moving average is $37.47. The company has a market cap of $33.94 billion and a PE ratio of 23.92.

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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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Analyst Recommendations for Associated British Foods plc (NASDAQ:ASBFY)

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