J P Morgan Chase & Co Reiterates Overweight Rating for Associated British Foods plc (ABF)

Associated British Foods plc (LON:ABF)‘s stock had its “overweight” rating reiterated by equities research analysts at J P Morgan Chase & Co in a research note issued to investors on Wednesday. They presently have a GBX 3,600 ($47.35) price target on the stock. J P Morgan Chase & Co’s price objective suggests a potential upside of 17.34% from the stock’s current price.

ABF has been the topic of a number of other reports. reiterated a “buy” rating and issued a GBX 3,700 ($48.67) target price on shares of Associated British Foods plc in a research note on Wednesday, September 6th. Credit Suisse Group AG reiterated an “outperform” rating and issued a GBX 3,600 ($47.35) target price on shares of Associated British Foods plc in a research note on Monday, September 11th. Liberum Capital reissued a “buy” rating and issued a GBX 3,150 ($41.43) price target on shares of Associated British Foods plc in a research report on Wednesday, August 30th. Deutsche Bank AG boosted their price target on shares of Associated British Foods plc from GBX 3,300 ($43.40) to GBX 3,500 ($46.03) and gave the company a “buy” rating in a research report on Friday, September 8th. Finally, Berenberg Bank boosted their price target on shares of Associated British Foods plc from GBX 3,100 ($40.77) to GBX 3,200 ($42.09) and gave the company a “hold” rating in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Associated British Foods plc currently has a consensus rating of “Buy” and an average target price of GBX 3,378.40 ($44.44).

Associated British Foods plc (ABF) opened at GBX 3,068 ($40.35) on Wednesday. Associated British Foods plc has a 52 week low of GBX 2,335 ($30.71) and a 52 week high of GBX 3,387 ($44.55).

Associated British Foods plc (LON:ABF) last released its earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.67) earnings per share for the quarter, beating the Zacks’ consensus estimate of GBX 125.90 ($1.66) by GBX 1.20 ($0.02). The firm had revenue of GBX 1,535.70 billion for the quarter. Associated British Foods plc had a net margin of 7.01% and a return on equity of 12.97%.

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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.

Analyst Recommendations for Associated British Foods plc (LON:ABF)

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