Associated British Foods (LON:ABF) Price Target Cut to GBX 1,600 by Analysts at Citigroup

Associated British Foods (LON:ABF) had its price objective decreased by stock analysts at Citigroup from GBX 1,710 to GBX 1,600 in a research note issued to investors on Wednesday,London Stock Exchange reports. The firm currently has a “sell” rating on the stock. Citigroup’s target price suggests a potential downside of 12.50% from the company’s current price.

ABF has been the subject of a number of other research reports. Royal Bank Of Canada cut Associated British Foods to an “underperform” rating and decreased their target price for the stock from GBX 2,050 to GBX 1,850 in a research report on Monday. JPMorgan Chase & Co. decreased their target price on Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating for the company in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating for the company in a research report on Thursday, January 8th. Shore Capital Group reissued a “hold” rating on shares of Associated British Foods in a research report on Friday, March 27th. Finally, Jefferies Financial Group reissued an “underperform” rating and issued a GBX 1,650 price objective on shares of Associated British Foods in a research report on Friday, January 9th. Three analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of GBX 1,793.

Associated British Foods Stock Performance

Associated British Foods stock traded down GBX 47.50 during trading hours on Wednesday, reaching GBX 1,828.50. 1,415,886 shares of the company were exchanged, compared to its average volume of 6,002,406. The firm has a market cap of £12.86 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.51 and a beta of 0.84. The company has a current ratio of 1.54, a quick ratio of 0.93 and a debt-to-equity ratio of 33.33. The stock has a 50-day moving average of GBX 1,895.93 and a 200 day moving average of GBX 2,028.11. Associated British Foods has a 12 month low of GBX 1,729.45 and a 12 month high of GBX 2,359.

Associated British Foods Company Profile

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.