Associated British Foods (ABF) Price Target Lowered to GBX 2,700 at Royal Bank of Canada
Associated British Foods (LON:ABF) had its target price decreased by stock analysts at Royal Bank of Canada from GBX 3,100 ($40.51) to GBX 2,700 ($35.28) in a research report issued to clients and investors on Tuesday. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 16.38% from the stock’s previous close.
ABF has been the topic of a number of other reports. Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 3,300 ($43.12) target price on shares of Associated British Foods in a research report on Thursday, July 5th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 3,200 ($41.81) price objective on shares of Associated British Foods in a research note on Tuesday, June 26th. Barclays dropped their price objective on shares of Associated British Foods from GBX 3,340 ($43.64) to GBX 3,280 ($42.86) and set an “overweight” rating on the stock in a research note on Tuesday, September 11th. Deutsche Bank dropped their price objective on shares of Associated British Foods from GBX 3,100 ($40.51) to GBX 3,000 ($39.20) and set a “buy” rating on the stock in a research note on Thursday, August 30th. Finally, Citigroup reiterated a “buy” rating and set a GBX 2,765 ($36.13) price objective on shares of Associated British Foods in a research note on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company’s stock. Associated British Foods has an average rating of “Buy” and a consensus target price of GBX 3,126.40 ($40.85).
Shares of LON:ABF opened at GBX 2,320 ($30.31) on Tuesday. Associated British Foods has a one year low of GBX 2,476 ($32.35) and a one year high of GBX 3,387 ($44.26).
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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