Associated British Foods (ABF) Stock Rating Reaffirmed by Credit Suisse Group

Associated British Foods (LON:ABF)‘s stock had its “outperform” rating reiterated by research analysts at Credit Suisse Group in a note issued to investors on Wednesday. They currently have a GBX 3,700 ($50.18) target price on the stock. Credit Suisse Group’s price target suggests a potential upside of 30.97% from the stock’s previous close.

A number of other brokerages also recently commented on ABF. Deutsche Bank restated 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, October 24th. Jefferies Group reaffirmed a “buy” rating and issued a GBX 3,600 ($48.82) target price on shares of Associated British Foods in a report on Thursday, October 19th. Macquarie began coverage on shares of Associated British Foods in a report on Friday, October 27th. They issued an “underperform” rating and a GBX 2,900 ($39.33) target price for the company. Liberum Capital reaffirmed a “buy” rating and issued a GBX 3,150 ($42.72) target price on shares of Associated British Foods in a report on Tuesday, November 7th. Finally, reaffirmed a “buy” rating and issued a GBX 3,700 ($50.18) target price on shares of Associated British Foods in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of GBX 3,395.90 ($46.05).

Shares of Associated British Foods (ABF) traded up GBX 7 ($0.09) during trading hours on Wednesday, reaching GBX 2,825 ($38.31). 1,896,862 shares of the company were exchanged, compared to its average volume of 869,344. The firm has a market capitalization of $22,360.00 and a P/E ratio of 1,858.55. Associated British Foods has a 1 year low of GBX 2,335 ($31.67) and a 1 year 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, beating 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 net margin of 7.01% and a return on equity of 12.97%.

In related news, insider John Bason sold 21,716 shares of the firm’s stock in a transaction that occurred on 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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Associated British Foods 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.

Analyst Recommendations for Associated British Foods (LON:ABF)

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