Royal Bank of Canada Reiterates “Sector Perform” Rating for Associated British Foods (LON:ABF)

Associated British Foods (LON:ABFGet Rating)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a research note issued to investors on Monday, MarketBeat reports. They presently have a GBX 2,100 ($27.37) price objective on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 28.60% from the stock’s current price.

Several other research analysts have also weighed in on ABF. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research note on Thursday, March 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 2,300 ($29.97) price objective on shares of Associated British Foods in a research note on Tuesday, March 1st. Barclays lowered their price objective on shares of Associated British Foods from GBX 2,700 ($35.18) to GBX 2,500 ($32.58) and set an “overweight” rating for the company in a research note on Wednesday, April 6th. Liberum Capital reissued a “buy” rating and issued a GBX 2,600 ($33.88) price objective on shares of Associated British Foods in a research note on Thursday, January 20th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Associated British Foods in a research note on Friday, March 25th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Associated British Foods currently has an average rating of “Buy” and a consensus target price of GBX 2,478.33 ($32.30).

Shares of ABF stock opened at GBX 1,633 ($21.28) on Monday. The company has a debt-to-equity ratio of 36.86, a current ratio of 1.86 and a quick ratio of 1.09. The firm has a market cap of £12.93 billion and a PE ratio of 26.99. The company has a 50-day moving average of GBX 1,780.73 and a two-hundred day moving average of GBX 1,886.43. Associated British Foods has a 1-year low of GBX 1,567.50 ($20.43) and a 1-year high of GBX 2,477 ($32.28).

Associated British Foods Company Profile (Get Rating)

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, balsamic vinegars, 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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