Zacks Investment Research Upgrades Associated British Foods (OTCMKTS:ASBFY) to Buy

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.

Shares of Associated British Foods (OTCMKTS:ASBFY) traded up $0.97 during midday trading on Tuesday, hitting $39.86. The stock had a trading volume of 18,777 shares, compared to its average volume of 63,419. Associated British Foods has a 1 year low of $30.01 and a 1 year high of $45.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.98 and a current ratio of 1.65.

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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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Analyst Recommendations for Associated British Foods (OTCMKTS:ASBFY)

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