Associated British Foods (LON:ABF)‘s stock had its “buy” rating restated by stock analysts at Deutsche Bank in a note issued to investors on Tuesday, January 2nd. They presently have a GBX 3,500 ($47.46) price target on the stock. Deutsche Bank’s target price would indicate a potential upside of 24.20% from the company’s previous close.
A number of other research firms have also issued reports on ABF. JPMorgan Chase & Co. upped their price target on Associated British Foods from GBX 3,300 ($44.75) to GBX 3,600 ($48.82) and gave the company an “overweight” rating in a research report on Tuesday, September 12th. Liberum Capital reiterated a “buy” rating and issued a GBX 3,500 ($47.46) price objective on shares of Associated British Foods in a report on Monday, December 11th. Morgan Stanley cut Associated British Foods to an “equal weight” rating and upped their price objective for the company from GBX 2,800 ($37.97) to GBX 3,100 ($42.04) in a report on Tuesday, November 28th. Credit Suisse Group reiterated an “outperform” rating and issued a GBX 3,600 ($48.82) price objective on shares of Associated British Foods in a report on Tuesday, September 19th. Finally, restated a “buy” rating and set a GBX 3,700 ($50.18) price target on shares of Associated British Foods in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. Associated British Foods has an average rating of “Buy” and an average target price of GBX 3,395.90 ($46.05).
Shares of Associated British Foods (LON ABF) opened at GBX 2,818 ($38.22) on Tuesday. Associated British Foods has a 52 week low of GBX 2,335 ($31.67) and a 52 week high of GBX 3,387 ($45.93). The company has a market capitalization of $22,310.00 and a P/E ratio of 1,853.95.
Associated British Foods (LON:ABF) last posted its quarterly earnings data on Tuesday, November 7th. The company reported GBX 127.10 ($1.72) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of GBX 125.90 ($1.71) by GBX 1.20 ($0.02). The company 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 news, insider John Bason sold 21,716 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of GBX 3,043 ($41.27), for a total transaction 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.
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