Associated British Foods (LON:ABF)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Financial Group in a research note issued to investors on Wednesday, Digital Look reports. They currently have a GBX 2,950 ($38.55) price target on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 29.50% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Shore Capital restated a “buy” rating on shares of Associated British Foods in a report on Thursday, July 4th. UBS Group restated a “buy” rating and issued a GBX 3,150 ($41.16) price target on shares of Associated British Foods in a report on Thursday, August 15th. Credit Suisse Group restated an “outperform” rating on shares of Associated British Foods in a report on Wednesday, July 3rd. Barclays restated an “overweight” rating and issued a GBX 3,400 ($44.43) price target on shares of Associated British Foods in a report on Friday, July 5th. Finally, Kepler Capital Markets raised their price target on shares of Associated British Foods from GBX 2,800 ($36.59) to GBX 2,900 ($37.89) and gave the stock a “buy” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of GBX 2,900.50 ($37.90).
ABF opened at GBX 2,278 ($29.77) on Wednesday. Associated British Foods has a twelve month low of GBX 2,011 ($26.28) and a twelve month high of GBX 2,659 ($34.74). The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 8.60. The company has a fifty day moving average of GBX 2,362.34 and a 200-day moving average of GBX 2,412.53. The stock has a market cap of $17.96 billion and a PE ratio of 19.67.
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, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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