Zacks Investment Research upgraded shares of Associated British Foods (OTCMKTS:ASBFY) from a hold rating to a buy rating in a research report report published on Wednesday. The brokerage currently has $40.00 price objective on the stock.
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. “
Other research analysts have also issued reports about the stock. Goldman Sachs raised shares of Associated British Foods from a neutral rating to a buy rating in a research note on Wednesday, March 7th. Morgan Stanley raised shares of Associated British Foods to an overweight rating in a research note on Wednesday, March 28th. Finally, Barclays raised shares of Associated British Foods from an equal weight rating to an overweight rating in a research note on Tuesday, January 16th. Six equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and a consensus price target of $40.00.
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About Associated British Foods
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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