Liberum Capital Reiterates “Buy” Rating for Associated British Foods (ABF)

Associated British Foods (LON:ABF)‘s stock had its “buy” rating restated by equities researchers at Liberum Capital in a research note issued on Monday. They presently have a GBX 3,500 ($47.11) price objective on the stock. Liberum Capital’s target price suggests a potential upside of 21.15% from the company’s previous close.

ABF has been the subject of a number of other reports. Deutsche Bank reissued a “buy” rating and set a GBX 3,500 ($47.11) price objective on shares of Associated British Foods in a report on Wednesday, October 11th. Credit Suisse Group reissued an “outperform” rating and set a GBX 3,600 ($48.45) price objective on shares of Associated British Foods in a report on Monday, September 11th. Berenberg Bank boosted their price objective on Associated British Foods from GBX 3,100 ($41.72) to GBX 3,200 ($43.07) and gave the stock a “hold” rating in a report on Monday, September 18th. J P Morgan Chase & Co reissued an “overweight” rating and set a GBX 3,600 ($48.45) price objective on shares of Associated British Foods in a report on Wednesday, November 15th. Finally, reaffirmed a “buy” rating and issued a GBX 3,700 ($49.80) target price on shares of Associated British Foods in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Associated British Foods currently has a consensus rating of “Buy” and a consensus target price of GBX 3,415.90 ($45.97).

Shares of Associated British Foods (LON ABF) opened at GBX 2,889 ($38.88) on Monday. Associated British Foods has a 52-week low of GBX 2,335 ($31.43) and a 52-week high of GBX 3,387 ($45.59).

Associated British Foods (LON:ABF) last issued its quarterly earnings data on Tuesday, November 7th. The company reported GBX 127.10 ($1.71) EPS for the quarter, topping analysts’ consensus estimates of GBX 125.90 ($1.69) by GBX 1.20 ($0.02). The firm had revenue of GBX 1,535.70 billion during the quarter. Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%.

In other Associated British Foods news, insider John Bason sold 21,716 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($40.96), for a total transaction of £660,817.88 ($889,391.49).

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Associated British Foods Company Profile

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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