Brokerages Set Associated British Foods plc (LON:ABF) Target Price at GBX 2,394

Associated British Foods plc (LON:ABFGet Rating) has earned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is GBX 2,394 ($31.20).

A number of equities analysts recently issued reports on ABF shares. Shore Capital reissued a “buy” rating on shares of Associated British Foods in a report 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 report on Tuesday, March 1st. Morgan Stanley reaffirmed an “equal weight” rating on shares of Associated British Foods in a report on Thursday. Barclays lowered their price target on shares of Associated British Foods from GBX 2,700 ($35.18) to GBX 2,500 ($32.58) and set an “overweight” rating on the stock in a report on Wednesday, April 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 2,100 ($27.37) price target on shares of Associated British Foods in a report on Monday, April 11th.

ABF opened at GBX 1,631.50 ($21.26) on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.09 and a debt-to-equity ratio of 36.86. The company has a market cap of £12.92 billion and a price-to-earnings ratio of 26.97. The company’s 50 day moving average is GBX 1,763.36 and its 200 day moving average is GBX 1,881.05. Associated British Foods has a 12-month low of GBX 1,462.50 ($19.06) and a 12-month high of GBX 2,477 ($32.28).

About Associated British Foods (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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