Associated British Foods (ASBFY) Rating Increased to Buy at Zacks Investment Research

Associated British Foods (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage presently has a $41.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.24% 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. “

A number of other equities research analysts also recently issued reports on ASBFY. Barclays raised shares of Associated British Foods from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 16th. Morgan Stanley downgraded shares of Associated British Foods from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 28th. Finally, Goldman Sachs Group downgraded shares of Associated British Foods from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Associated British Foods has an average rating of “Buy” and a consensus price target of $41.00.

Shares of Associated British Foods (ASBFY) traded up $0.15 during trading hours on Tuesday, hitting $37.19. 29,600 shares of the company were exchanged, compared to its average volume of 9,361. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.65 and a quick ratio of 0.98. Associated British Foods has a 12-month low of $30.51 and a 12-month high of $45.22.

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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.

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Analyst Recommendations for Associated British Foods (OTCMKTS:ASBFY)

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