Associated British Foods (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Tuesday, January 9th. The firm currently has a $43.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 7.89% from the stock’s current price.
According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “
A number of other research firms have also issued reports on ASBFY. Morgan Stanley lowered Associated British Foods from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 28th. Goldman Sachs Group lowered Associated British Foods from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.00.
About Associated British Foods
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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