Barclays PLC Reiterates Equal Weight Rating for Associated British Foods plc (ABF)
Associated British Foods plc (LON:ABF)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Barclays PLC in a research report issued on Friday. They presently have a GBX 3,050 ($37.75) price objective on the stock. Barclays PLC’s price objective would indicate a potential upside of 22.34% from the stock’s previous close.
Other research analysts have also issued research reports about the stock. HSBC reissued a “buy” rating and issued a GBX 3,300 ($40.84) price objective on shares of Associated British Foods plc in a research note on Wednesday, August 10th. Societe Generale reissued a “hold” rating on shares of Associated British Foods plc in a research note on Tuesday, June 28th. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 2,800 ($34.65) price objective on shares of Associated British Foods plc in a research note on Monday, July 18th. BNP Paribas reissued an “outperform” rating and issued a GBX 3,300 ($40.84) price objective on shares of Associated British Foods plc in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. raised their price objective on shares of Associated British Foods plc from GBX 2,600 ($32.18) to GBX 3,000 ($37.13) and gave the company a “neutral” rating in a research note on Thursday, September 15th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of GBX 3,054.29 ($37.80).
Shares of Associated British Foods plc (LON:ABF) opened at 2499.222900 on Friday. Associated British Foods plc has a 52-week low of GBX 1,910.00 and a 52-week high of GBX 3,606.00. The stock’s market cap is GBX 19.74 billion. The firm’s 50-day moving average is GBX 2,822.06 and its 200 day moving average is GBX 2,935.94.
In related news, insider Reid ,Richard bought 3,347 shares of the firm’s stock in a transaction on Wednesday, July 13th. The shares were bought at an average cost of GBX 2,820 ($34.90) per share, for a total transaction of £94,385.40 ($116,813.61).
Associated British Foods plc Company Profile
Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The Company operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. The Company operates in five segments, including Sugar, Agriculture, Retail, Grocery and Ingredients.
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