Associated British Foods (LON:ABF) had its price objective upped by Kepler Capital Markets from GBX 3,300 ($44.19) to GBX 3,400 ($45.53) in a note issued to investors on Monday, November 13th. The brokerage currently has a “buy” rating on the stock. Kepler Capital Markets’ price target indicates a potential upside of 17.79% from the company’s previous close.
Several other equities analysts also recently issued reports on the stock. Deutsche Bank reissued a “buy” rating and set a GBX 3,500 ($46.87) price objective on shares of Associated British Foods in a research note on Tuesday, October 24th. reaffirmed a “buy” rating and set a GBX 3,700 ($49.55) price target on shares of Associated British Foods in a research note on Friday, July 21st. Macquarie began coverage on shares of Associated British Foods in a research note on Friday, October 27th. They set an “underperform” rating and a GBX 2,900 ($38.84) price target on the stock. Liberum Capital reaffirmed a “buy” rating and set a GBX 3,150 ($42.19) price target on shares of Associated British Foods in a research note on Wednesday, August 30th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a GBX 3,585 ($48.01) price target on shares of Associated British Foods in a research note on Monday, September 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of GBX 3,415.90 ($45.75).
Shares of Associated British Foods (LON:ABF) traded down GBX 61.39 ($0.82) during midday trading on Monday, hitting GBX 2,886.61 ($38.66). 1,520,000 shares of the company’s stock traded hands, compared to its average volume of 884,259. Associated British Foods has a 12 month low of GBX 2,335 ($31.27) and a 12 month high of GBX 3,387 ($45.36).
In other Associated British Foods news, insider John Bason sold 21,716 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of GBX 3,043 ($40.75), for a total transaction of £660,817.88 ($884,984.44).
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Associated British Foods Company Profile
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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