Associated British Foods (ABF) Price Target Lowered to GBX 2,700 at Royal Bank of Canada

Associated British Foods (LON:ABF) had its target price decreased by Royal Bank of Canada from GBX 2,900 ($40.07) to GBX 2,700 ($37.30) in a research report issued to clients and investors on Monday. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 10.57% from the company’s previous close.

A number of other equities analysts also recently issued reports on ABF. Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research note on Monday, March 12th. Goldman Sachs dropped their price objective on shares of Associated British Foods from GBX 3,585 ($49.53) to GBX 3,100 ($42.83) and set a “buy” rating on the stock in a research note on Thursday, March 8th. Liberum Capital reiterated a “buy” rating and set a GBX 3,500 ($48.36) price objective on shares of Associated British Foods in a research note on Monday, March 5th. UBS reiterated a “neutral” rating and set a GBX 3,150 ($43.52) price objective on shares of Associated British Foods in a research note on Monday, February 26th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a GBX 3,700 ($51.12) price objective on shares of Associated British Foods in a research note on Monday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of GBX 3,381.57 ($46.72).

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Associated British Foods (LON:ABF) opened at GBX 2,442 ($33.74) on Monday. Associated British Foods has a one year low of GBX 2,476 ($34.21) and a one year high of GBX 3,387 ($46.79). The stock has a market cap of $19,870.00 and a P/E ratio of 1,606.58.

In related news, insider Michael McLintock purchased 7,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was acquired at an average price of GBX 2,716 ($37.52) per share, with a total value of £203,700 ($281,431.33).

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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.

Analyst Recommendations for Associated British Foods (LON:ABF)

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