JPMorgan Chase & Co. Trims Associated British Foods (LON:ABF) Target Price to GBX 1,630

Associated British Foods (LON:ABFGet Rating) had its target price dropped by equities researchers at JPMorgan Chase & Co. from GBX 1,900 ($22.96) to GBX 1,630 ($19.70) in a report released on Friday, MarketBeat.com reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 20.74% from the company’s current price.

ABF has been the topic of several other reports. Royal Bank of Canada reissued a “sector perform” rating and set a GBX 1,850 ($22.35) price target on shares of Associated British Foods in a research report on Monday, May 30th. Barclays reissued an “overweight” rating and set a GBX 2,300 ($27.79) price target on shares of Associated British Foods in a research report on Friday, July 22nd. Jefferies Financial Group lowered Associated British Foods to a “hold” rating and dropped their price target for the company from GBX 2,000 ($24.17) to GBX 1,500 ($18.12) in a research report on Tuesday. Deutsche Bank Aktiengesellschaft dropped their target price on Associated British Foods from GBX 1,900 ($22.96) to GBX 1,850 ($22.35) and set a “hold” rating on the stock in a research report on Tuesday, July 5th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research report on Thursday, July 21st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of GBX 2,028.57 ($24.51).

Associated British Foods Stock Performance

Associated British Foods stock opened at GBX 1,350 ($16.31) on Friday. The company has a current ratio of 1.99, a quick ratio of 1.15 and a debt-to-equity ratio of 37.25. The stock has a market cap of £10.69 billion and a P/E ratio of 1,348.50. Associated British Foods has a 52 week low of GBX 1,314.38 ($15.88) and a 52 week high of GBX 2,181 ($26.35). The stock has a 50 day moving average of GBX 1,598.65 and a 200-day moving average of GBX 1,647.07.

Insider Activity

In other Associated British Foods news, insider Wolfhart Hauser purchased 3,243 shares of the stock in a transaction dated Tuesday, July 5th. The shares were bought at an average cost of GBX 1,534 ($18.54) per share, with a total value of £49,747.62 ($60,110.71).

About Associated British Foods

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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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