Associated British Foods’ (ABF) “Outperform” Rating Reiterated at Credit Suisse Group

Associated British Foods (LON:ABF)‘s stock had its “outperform” rating restated by research analysts at Credit Suisse Group in a note issued to investors on Wednesday. They currently have a GBX 3,700 ($50.18) target price on the stock. Credit Suisse Group’s price target points to a potential upside of 30.60% from the stock’s previous close.

ABF has been the topic of several other reports. reiterated a “buy” rating and set a GBX 3,700 ($50.18) price objective on shares of Associated British Foods in a research report on Tuesday, September 12th. Jefferies Group reiterated a “buy” rating and set a GBX 3,600 ($48.82) price objective on shares of Associated British Foods in a research report on Tuesday, September 12th. JPMorgan Chase & Co. increased their price objective on Associated British Foods from GBX 3,300 ($44.75) to GBX 3,600 ($48.82) and gave the company an “overweight” rating in a research report on Tuesday, September 12th. Investec reiterated a “buy” rating and set a GBX 3,410 ($46.24) price objective on shares of Associated British Foods in a research report on Wednesday, September 13th. Finally, Berenberg Bank increased their price objective on Associated British Foods from GBX 3,100 ($42.04) to GBX 3,200 ($43.40) and gave the company a “hold” rating in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of GBX 3,395.90 ($46.05).

Associated British Foods (ABF) traded down GBX 9 ($0.12) during trading hours on Wednesday, hitting GBX 2,833 ($38.42). The company’s stock had a trading volume of 274,138 shares, compared to its average volume of 861,533. Associated British Foods has a 1 year low of GBX 2,335 ($31.67) and a 1 year high of GBX 3,387 ($45.93). The stock has a market cap of $22,430.00 and a PE ratio of 1,863.82.

Associated British Foods (LON:ABF) last released its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.72) earnings per share for the quarter, beating the consensus estimate of GBX 125.90 ($1.71) by GBX 1.20 ($0.02). Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%. The firm had revenue of GBX 1,535.70 billion for the quarter.

In other news, insider John Bason sold 21,716 shares of Associated British Foods stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($41.27), for a total value of £660,817.88 ($896,145.76).

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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.

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