Associated British Foods (LON:ABF) was upgraded by equities research analysts at UBS to a “buy” rating in a note issued to investors on Tuesday, investing.thisismoney.co.uk reports. The brokerage currently has a GBX 3,150 ($42.73) price objective on the stock. UBS’s price target indicates a potential upside of 14.50% from the company’s current price.
Several other equities research analysts also recently issued reports on ABF. Credit Suisse Group lowered their price objective on shares of Associated British Foods from GBX 3,700 ($50.19) to GBX 3,300 ($44.76) and set an “outperform” rating for the company in a research report on Friday. Liberum Capital reissued a “buy” rating and set a GBX 3,500 ($47.48) price objective on shares of Associated British Foods in a research report on Tuesday, April 17th. Shore Capital reissued a “buy” rating and set a GBX 2,583 ($35.04) price objective on shares of Associated British Foods in a research report on Tuesday, April 17th. Royal Bank of Canada reaffirmed a “sector performer” rating and issued a GBX 3,100 ($42.05) target price on shares of Associated British Foods in a research report on Monday, January 8th. Finally, Goldman Sachs reaffirmed a “buy” rating on shares of Associated British Foods in a research report on Monday, April 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nineteen have given a buy rating to the company’s stock. Associated British Foods currently has an average rating of “Buy” and an average price target of GBX 3,324.90 ($45.10).
Shares of ABF stock opened at GBX 2,751 ($37.32) on Tuesday. Associated British Foods has a 12-month low of GBX 2,476 ($33.59) and a 12-month high of GBX 3,387 ($45.94).
In other news, insider Michael McLintock acquired 7,500 shares of the firm’s stock in a transaction dated Wednesday, April 18th. The stock was bought at an average price of GBX 2,688 ($36.46) per share, with a total value of £201,600 ($273,467.17).
Associated British Foods Company Profile
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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