Associated British Foods (LON:ABF) had its target price reduced by equities research analysts at Barclays from GBX 3,380 ($47.45) to GBX 3,330 ($46.74) in a research report issued to clients and investors on Thursday. The firm presently has an “overweight” rating on the stock. Barclays’ price target indicates a potential upside of 33.47% from the company’s previous close.
Several other equities research analysts have also issued reports on the stock. Morgan Stanley raised shares of Associated British Foods to an “overweight” rating and set a GBX 3,000 ($42.11) target price on the stock in a research note on Wednesday, March 28th. Royal Bank of Canada lowered their target price on shares of Associated British Foods from GBX 2,900 ($40.71) to GBX 2,700 ($37.90) and set an “outperform” rating on the stock in a research note on Monday, March 26th. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research note on Monday, March 12th. Goldman Sachs lowered their target price on shares of Associated British Foods from GBX 3,585 ($50.32) to GBX 3,100 ($43.51) and set a “buy” rating on the stock in a research note on Thursday, March 8th. Finally, Liberum Capital reissued a “buy” rating and set a GBX 3,500 ($49.13) target price on shares of Associated British Foods in a research note on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. Associated British Foods presently has an average rating of “Buy” and an average target price of GBX 3,374.43 ($47.37).
ABF stock opened at GBX 2,495 ($35.02) on Thursday. Associated British Foods has a 52-week low of GBX 2,476 ($34.76) and a 52-week high of GBX 3,387 ($47.54).
In related news, insider Michael McLintock purchased 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average cost of GBX 2,716 ($38.12) per share, with a total value of £203,700 ($285,934.87).
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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.
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