HSBC Holdings plc Reaffirms Buy Rating for Associated British Foods plc (ABF)
Associated British Foods plc (LON:ABF)‘s stock had its “buy” rating reiterated by equities researchers at HSBC Holdings plc in a report issued on Thursday. They currently have a GBX 3,700 ($48.83) price objective on the stock. HSBC Holdings plc’s price target suggests a potential upside of 11.04% from the company’s previous close.
A number of other equities analysts also recently weighed in on ABF. Kepler Capital Markets reissued a “buy” rating and set a GBX 3,300 ($43.55) target price on shares of Associated British Foods plc in a research note on Monday, September 11th. Credit Suisse Group reissued an “outperform” rating and set a GBX 3,600 ($47.51) target price on shares of Associated British Foods plc in a research note on Wednesday, September 27th. Berenberg Bank lifted their target price on shares of Associated British Foods plc from GBX 3,100 ($40.91) to GBX 3,200 ($42.23) and gave the stock a “hold” rating in a research note on Monday, September 18th. Shore Capital reissued a “buy” rating on shares of Associated British Foods plc in a research note on Thursday, July 6th. Finally, Deutsche Bank AG reissued a “buy” rating and set a GBX 3,500 ($46.19) target price on shares of Associated British Foods plc in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of GBX 3,315.76 ($43.76).
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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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