Associated British Foods plc (ABF) PT Raised to GBX 3,700

Associated British Foods plc (LON:ABF) had its target price boosted by stock analysts at Credit Suisse Group from GBX 3,600 ($47.35) to GBX 3,700 ($48.67) in a note issued to investors on Monday. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 19.47% from the stock’s previous close.

ABF has been the topic of a number of other reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 3,500 ($46.03) target price on shares of Associated British Foods plc in a report on Wednesday, October 11th. Berenberg Bank boosted their price objective 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 note on Monday, September 18th. Liberum Capital reissued a “buy” rating and issued a GBX 3,150 ($41.43) price objective on shares of Associated British Foods plc in a research note on Tuesday, November 7th. reissued a “buy” rating and issued a GBX 3,700 ($48.67) price objective on shares of Associated British Foods plc in a research note on Tuesday, September 12th. Finally, Macquarie started coverage on shares of Associated British Foods plc in a research note on Friday, October 27th. They issued an “underperform” rating and a GBX 2,900 ($38.14) price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. Associated British Foods plc has a consensus rating of “Buy” and a consensus target price of GBX 3,383.40 ($44.50).

Shares of Associated British Foods plc (LON ABF) opened at GBX 3,097 ($40.73) on Monday. Associated British Foods plc has a 12-month low of GBX 2,335 ($30.71) and a 12-month high of GBX 3,387 ($44.55).

Associated British Foods plc (LON:ABF) last announced its earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.67) EPS for the quarter, beating analysts’ consensus estimates of GBX 125.90 ($1.66) by GBX 1.20 ($0.02). The business 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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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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