Associated British Foods’ (ABF) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Associated British Foods (LON:ABF) in a report released on Tuesday. They currently have a GBX 3,200 ($42.60) price target on the stock.

Several other equities analysts have also recently commented on ABF. Credit Suisse Group reduced their price objective on shares of Associated British Foods from GBX 3,700 ($49.26) to GBX 3,300 ($43.94) and set an outperform rating for the company in a research note on Friday, May 4th. Societe Generale reduced their price objective on shares of Associated British Foods from GBX 3,650 ($48.60) to GBX 3,100 ($41.27) and set a buy rating for the company in a research note on Thursday, June 7th. Liberum Capital reaffirmed a buy rating and set a GBX 3,500 ($46.60) price objective on shares of Associated British Foods in a research note on Tuesday, April 17th. Goldman Sachs Group reaffirmed a buy rating on shares of Associated British Foods in a research note on Monday, April 23rd. Finally, Shore Capital reaffirmed a buy rating and set a GBX 2,583 ($34.39) price objective on shares of Associated British Foods in a research note on Tuesday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of GBX 3,297.29 ($43.90).

Shares of Associated British Foods opened at GBX 2,806 ($37.36) on Tuesday, Marketbeat reports. Associated British Foods has a 12 month low of GBX 2,476 ($32.96) and a 12 month high of GBX 3,387 ($45.09).

The business also recently declared a dividend, which will be paid on Friday, July 6th. Shareholders of record on Thursday, June 7th will be paid a GBX 11.70 ($0.16) dividend. The ex-dividend date is Thursday, June 7th. This represents a yield of 0.43%.

In other Associated British Foods news, insider John Bason acquired 30,000 shares of the stock in a transaction dated Tuesday, May 29th. The stock was purchased at an average cost of GBX 2,699 ($35.93) per share, for a total transaction of £809,700 ($1,078,018.91). Also, insider Michael McLintock acquired 7,500 shares of the stock in a transaction dated Wednesday, April 18th. The stock was acquired at an average price of GBX 2,688 ($35.79) per share, with a total value of £201,600 ($268,406.34).

About Associated British Foods

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.

Analyst Recommendations for Associated British Foods (LON:ABF)

Receive News & Ratings for Associated British Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated British Foods and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply