Associated British Foods (LON:ABF) Rating Reiterated by Shore Capital

Associated British Foods (LON:ABF)‘s stock had its “buy” rating reaffirmed by equities research analysts at Shore Capital in a note issued to investors on Friday, ThisIsMoney.Co.Uk reports.

ABF has been the subject of several other research reports. Goldman Sachs Group raised Associated British Foods to a “buy” rating and lifted their price target for the stock from GBX 2,500 ($32.67) to GBX 2,750 ($35.93) in a research report on Thursday, November 7th. Berenberg Bank cut their price objective on shares of Associated British Foods from GBX 2,800 ($36.59) to GBX 2,700 ($35.28) and set a “buy” rating on the stock in a research report on Monday, October 21st. Liberum Capital restated a “buy” rating and set a GBX 3,070 ($40.11) price objective on shares of Associated British Foods in a research note on Tuesday, November 5th. Royal Bank of Canada lifted their target price on shares of Associated British Foods from GBX 2,700 ($35.28) to GBX 2,800 ($36.59) and gave the stock an “outperform” rating in a report on Monday, November 25th. Finally, UBS Group reiterated a “buy” rating on shares of Associated British Foods in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Associated British Foods currently has an average rating of “Buy” and an average target price of GBX 2,855.64 ($37.31).

LON ABF opened at GBX 2,524 ($32.98) on Friday. Associated British Foods has a 12 month low of GBX 2,011 ($26.28) and a 12 month high of GBX 2,587 ($33.80). The company has a current ratio of 1.82, a quick ratio of 0.91 and a debt-to-equity ratio of 6.16. The stock’s fifty day moving average price is GBX 2,382.40 and its 200-day moving average price is GBX 2,372.56. The stock has a market cap of $19.81 billion and a P/E ratio of 22.72.

In related news, insider Ruth Cairnie bought 1,110 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of GBX 2,231 ($29.15) per share, with a total value of £24,764.10 ($32,358.68). Also, insider John Bason sold 20,827 shares of Associated British Foods stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of GBX 2,536 ($33.14), for a total transaction of £528,172.72 ($690,151.21).

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, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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Analyst Recommendations for Associated British Foods (LON:ABF)

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