Associated British Foods (ABF) Given “Overweight” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of Associated British Foods (LON:ABF) in a report published on Wednesday.

A number of other research firms also recently issued reports on ABF. Kepler Capital Markets decreased their price target on shares of Associated British Foods from GBX 3,000 ($39.20) to GBX 2,600 ($33.97) and set a buy rating on the stock in a research note on Tuesday, September 11th. UBS Group reaffirmed a buy rating on shares of Associated British Foods in a research note on Tuesday. Royal Bank of Canada decreased their price target on shares of Associated British Foods from GBX 3,100 ($40.51) to GBX 2,700 ($35.28) and set an outperform rating on the stock in a research note on Tuesday, October 16th. Goldman Sachs Group decreased their price target on shares of Associated British Foods from GBX 2,840 ($37.11) to GBX 2,500 ($32.67) and set a neutral rating on the stock in a research note on Tuesday, September 11th. Finally, Credit Suisse Group decreased their price target on shares of Associated British Foods from GBX 3,300 ($43.12) to GBX 2,950 ($38.55) and set an outperform rating on the stock in a research note on Tuesday, September 11th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of GBX 3,063.41 ($40.03).

Associated British Foods stock traded up GBX 55 ($0.72) during mid-day trading on Wednesday, reaching GBX 2,620 ($34.23). 1,715,467 shares of the company’s stock traded hands, compared to its average volume of 972,940. Associated British Foods has a 12-month low of GBX 2,476 ($32.35) and a 12-month high of GBX 3,387 ($44.26).

The company also recently disclosed a dividend, which will be paid on Friday, January 11th. Shareholders of record on Thursday, December 13th will be given a dividend of GBX 33.30 ($0.44) per share. This is a boost from Associated British Foods’s previous dividend of $11.70. The ex-dividend date is Thursday, December 13th. This represents a yield of 1.35%.

About Associated British Foods

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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Analyst Recommendations for Associated British Foods (LON:ABF)

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