Liberum Capital Boosts Associated British Foods (ABF) Price Target to GBX 3,500
Associated British Foods (LON:ABF) had its price target boosted by Liberum Capital from GBX 3,150 ($42.19) to GBX 3,500 ($46.87) in a report released on Monday. The brokerage currently has a buy rating on the stock.
A number of other analysts have also issued reports on ABF. Barclays reiterated an equal weight rating and set a GBX 3,150 ($42.19) price objective on shares of Associated British Foods in a research note on Tuesday, August 1st. Jefferies Group lifted their price objective on shares of Associated British Foods from GBX 3,500 ($46.87) to GBX 3,600 ($48.21) and gave the company a buy rating in a research note on Wednesday, August 30th. Goldman Sachs Group lifted their price objective on shares of Associated British Foods from GBX 3,330 ($44.60) to GBX 3,585 ($48.01) and gave the company a buy rating in a research note on Thursday, August 31st. Credit Suisse Group lifted their price objective on shares of Associated British Foods from GBX 3,350 ($44.86) to GBX 3,600 ($48.21) and gave the company an outperform rating in a research note on Friday, September 1st. Finally, J P Morgan Chase & Co restated an overweight rating and issued a GBX 3,300 ($44.19) price target on shares of Associated British Foods in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of GBX 3,415.90 ($45.75).
Shares of Associated British Foods (LON:ABF) opened at GBX 3,012 ($40.34) on Monday. Associated British Foods has a 12-month low of GBX 2,335 ($31.27) and a 12-month high of GBX 3,387 ($45.36).
Associated British Foods (LON:ABF) last posted its quarterly earnings data on Tuesday, November 7th. The company reported GBX 127.10 ($1.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of GBX 125.90 ($1.69) by GBX 1.20 ($0.02). The company had revenue of GBX 1,535.70 billion for the quarter. Associated British Foods had a net margin of 7.01% and a return on equity of 12.97%.
The firm also recently announced a dividend, which will be paid on Friday, January 12th. Shareholders of record on Thursday, December 14th will be paid a dividend of GBX 29.65 ($0.40) per share. This is a positive change from Associated British Foods’s previous dividend of $11.35. The ex-dividend date is Thursday, December 14th. This represents a yield of 0.97%.
In other Associated British Foods news, insider John Bason sold 21,716 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of GBX 3,043 ($40.75), for a total transaction of £660,817.88 ($884,984.44).
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About Associated British Foods
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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