Associated British Foods (ABF) Receives Buy Rating from Liberum Capital

Associated British Foods (LON:ABF)‘s stock had its “buy” rating restated by investment analysts at Liberum Capital in a research note issued to investors on Thursday. They currently have a GBX 3,500 ($47.46) price objective on the stock. Liberum Capital’s price objective indicates a potential upside of 26.58% from the company’s previous close.

ABF has been the subject of several other reports. Barclays upgraded Associated British Foods to an “overweight” rating and boosted their target price for the stock from GBX 3,290 ($44.62) to GBX 3,380 ($45.84) in a research report on Tuesday. Credit Suisse Group restated an “outperform” rating and set a GBX 3,700 ($50.18) target price on shares of Associated British Foods in a research report on Thursday, December 7th. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 3,600 ($48.82) target price on shares of Associated British Foods in a research report on Wednesday, November 8th. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research report on Tuesday, November 7th. Finally, Deutsche Bank reiterated a “buy” rating and issued a GBX 3,500 ($47.46) price objective on shares of Associated British Foods in a research report on Tuesday, December 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of GBX 3,439.37 ($46.64).

Shares of Associated British Foods (LON:ABF) opened at GBX 2,765 ($37.50) on Thursday. The company has a market capitalization of $21,870.00 and a PE ratio of 1,819.08. Associated British Foods has a 12-month low of GBX 2,335 ($31.67) and a 12-month high of GBX 3,387 ($45.93).

Associated British Foods (LON:ABF) last announced its quarterly earnings data on Tuesday, November 7th. The company reported GBX 127.10 ($1.72) EPS for the quarter, topping the Zacks’ consensus estimate of GBX 125.90 ($1.71) by GBX 1.20 ($0.02). The firm had revenue of GBX 1,535.70 billion during the quarter. Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%.

In other Associated British Foods news, insider John Bason sold 21,716 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($41.27), for a total value of £660,817.88 ($896,145.76).

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About Associated British Foods

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.

Analyst Recommendations for Associated British Foods (LON:ABF)

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