Associated British Foods plc (LON:ABF)’s share price rose 1.3% during mid-day trading on Tuesday after J P Morgan Chase & Co raised their price target on the stock from GBX 3,300 to GBX 3,600. J P Morgan Chase & Co currently has an overweight rating on the stock. Associated British Foods plc traded as high as GBX 3,161 ($40.82) and last traded at GBX 3,142 ($40.58). Approximately 1,132,449 shares traded hands during mid-day trading, an increase of 47% from the average daily volume of 770,833 shares. The stock had previously closed at GBX 3,103 ($40.07).

Several other research firms have also issued reports on ABF. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 3,500 ($45.20) target price on shares of Associated British Foods plc in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating and issued a GBX 3,600 ($46.49) target price on shares of Associated British Foods plc in a research note on Tuesday. Goldman Sachs Group, Inc. (The) lifted their target price on Associated British Foods plc from GBX 3,000 ($38.74) to GBX 3,200 ($41.33) and gave the company a “buy” rating in a research note on Thursday, May 18th. Barclays PLC reiterated an “equal weight” rating and issued a GBX 3,150 ($40.68) target price on shares of Associated British Foods plc in a research note on Tuesday, August 1st. Finally, Liberum Capital reiterated a “buy” rating and issued a GBX 3,150 ($40.68) target price on shares of Associated British Foods plc in a research note on Wednesday, July 12th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of GBX 3,298 ($42.59).

The company has a 50 day moving average price of GBX 3,149.49 and a 200-day moving average price of GBX 2,896.40. The stock’s market capitalization is GBX 24.93 billion.

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Associated British Foods plc 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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