Numis Securities Ltd upgraded shares of Associated British Foods plc (LON:ABF) to an add rating in a research note published on Friday morning. Numis Securities Ltd currently has GBX 3,000 ($39.16) price objective on the stock, up from their prior price objective of GBX 2,942 ($38.40).
ABF has been the subject of several other research reports. HSBC lowered their price target on Associated British Foods plc from GBX 3,770 ($49.21) to GBX 3,300 ($43.08) and set a buy rating for the company in a report on Thursday, June 30th. Royal Bank Of Canada reaffirmed a sector perform rating and set a GBX 2,800 ($36.55) target price on shares of Associated British Foods plc in a report on Monday, July 18th. Kepler Capital Markets began coverage on Associated British Foods plc in a report on Wednesday, August 24th. They set a reduce rating and a GBX 2,700 ($35.24) target price for the company. Societe Generale reiterated a hold rating on shares of Associated British Foods plc in a research report on Tuesday, June 28th. Finally, Goldman Sachs Group Inc. raised Associated British Foods plc to a neutral rating and boosted their price objective for the stock from GBX 2,475 ($32.31) to GBX 3,100 ($40.46) in a research note on Tuesday, September 6th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Associated British Foods plc currently has a consensus rating of Hold and a consensus target price of GBX 3,059.05 ($39.93).
Shares of Associated British Foods plc (LON:ABF) traded down 1.05% during midday trading on Friday, reaching GBX 2637.00. 280,901 shares of the company’s stock were exchanged. The company’s 50-day moving average is GBX 2,936.27 and its 200-day moving average is GBX 3,002.55. The stock’s market cap is GBX 20.83 billion. Associated British Foods plc has a one year low of GBX 1,910.00 and a one year high of GBX 3,606.00.
In related news, insider Reid ,Richard acquired 3,347 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was bought at an average cost of GBX 2,820 ($36.81) per share, with a total value of £94,385.40 ($123,202.45). Also, insider Hauser,Wolfhart acquired 2,000 shares of the firm’s stock in a transaction on Thursday, July 7th. The shares were bought at an average cost of GBX 2,659 ($34.71) per share, with a total value of £53,180 ($69,416.53).
About Associated British Foods plc
Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The Company operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. The Company operates in five segments, including Sugar, Agriculture, Retail, Grocery and Ingredients.
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