Associated British Foods (LON:ABF)‘s stock had its “outperform” rating reaffirmed by equities researchers at Credit Suisse Group in a report issued on Tuesday. They currently have a GBX 3,300 ($47.25) price target on the stock. Credit Suisse Group’s price target would suggest a potential upside of 22.68% from the company’s current price.
ABF has been the topic of several other research reports. Royal Bank of Canada reissued a “sector performer” rating and issued a GBX 3,100 ($44.39) price objective on shares of Associated British Foods in a research report on Monday, January 8th. Deutsche Bank reissued a “buy” rating and issued a GBX 3,500 ($50.11) price objective on shares of Associated British Foods in a research report on Friday, January 19th. Goldman Sachs lowered their target price on Associated British Foods from GBX 3,585 ($51.33) to GBX 3,100 ($44.39) and set a “buy” rating on the stock in a research note on Thursday, March 8th. Liberum Capital restated a “buy” rating and issued a GBX 3,500 ($50.11) target price on shares of Associated British Foods in a research note on Thursday, January 18th. Finally, Shore Capital restated a “buy” rating on shares of Associated British Foods in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 3,320.27 ($47.54).
ABF stock traded up GBX 107 ($1.53) during midday trading on Tuesday, hitting GBX 2,690 ($38.52). The company’s stock had a trading volume of 1,858,390 shares, compared to its average volume of 972,940. Associated British Foods has a 1 year low of GBX 2,476 ($35.45) and a 1 year high of GBX 3,387 ($48.50).
In related news, insider Michael McLintock acquired 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were bought at an average cost of GBX 2,716 ($38.89) per share, for a total transaction of £203,700 ($291,666.67).
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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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