Citigroup Cuts Associated British Foods (LON:ABF) Price Target to GBX 1,520

Associated British Foods (LON:ABF) had its price objective trimmed by Citigroup from GBX 1,550 to GBX 1,520 in a report published on Wednesday,Digital Look reports. The firm currently has a sector perform rating on the stock.

A number of other brokerages have also issued reports on ABF. Shore Capital Group restated a “hold” rating and set a GBX 2,010 target price on shares of Associated British Foods in a research report on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lowered their price objective on Associated British Foods from GBX 1,700 to GBX 1,645 and set a “neutral” rating on the stock in a research note on Friday, September 11th. UBS Group reaffirmed a “neutral” rating and issued a GBX 2,050 price objective on shares of Associated British Foods in a report on Friday, June 26th. Finally, Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,650 target price on shares of Associated British Foods in a research report on Wednesday, July 1st. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of GBX 1,796.43.

Associated British Foods Price Performance

LON:ABF opened at GBX 1,860.50 on Wednesday. Associated British Foods has a 52 week low of GBX 1,729.45 and a 52 week high of GBX 2,359. The firm has a market cap of £12.99 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.51 and a beta of 0.81. The firm’s 50-day simple moving average is GBX 2,002 and its 200 day simple moving average is GBX 1,919.77. The company has a debt-to-equity ratio of 32.63, a quick ratio of 0.93 and a current ratio of 1.51.

About Associated British Foods

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.

Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.