Associated British Foods plc (ASBFY) Rating Increased to Buy at Zacks Investment Research
Associated British Foods plc (NASDAQ:ASBFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage presently has a $49.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.06% from the stock’s current price.
According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “
Separately, Kepler Capital Markets raised Associated British Foods plc from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $49.00.
Associated British Foods plc (NASDAQ:ASBFY) opened at 42.96 on Friday. Associated British Foods plc has a 1-year low of $29.84 and a 1-year high of $43.81. The company has a market capitalization of $33.94 billion and a P/E ratio of 23.92. The firm has a 50-day moving average price of $41.47 and a 200-day moving average price of $37.54.
About Associated British Foods plc
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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