Citigroup Lowers Associated British Foods (LON:ABF) Price Target to GBX 1,600

Associated British Foods (LON:ABF) had its price objective dropped by equities research analysts at Citigroup from GBX 1,710 to GBX 1,600 in a research note issued on Wednesday, MarketBeat.com reports. The brokerage presently has a “sell” rating on the stock. Citigroup’s price target indicates a potential downside of 13.41% from the company’s previous close.

Several other research analysts have also recently commented on the company. Shore Capital Group reissued a “hold” rating on shares of Associated British Foods in a research note on Friday, March 27th. Jefferies Financial Group reissued an “underperform” rating and set a GBX 1,650 target price on shares of Associated British Foods in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft lowered their target price on Associated British Foods from GBX 2,100 to GBX 1,925 and set a “hold” rating for the company in a research note on Thursday, January 8th. Royal Bank Of Canada cut Associated British Foods to an “underperform” rating and lowered their price objective for the stock from GBX 2,050 to GBX 1,850 in a research report on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on Associated British Foods from GBX 2,095 to GBX 1,940 and set a “neutral” rating for the company in a research report on Friday, January 9th. Three equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Associated British Foods presently has a consensus rating of “Reduce” and an average price target of GBX 1,793.

Associated British Foods Trading Up 1.1%

ABF opened at GBX 1,847.75 on Wednesday. Associated British Foods has a 12 month low of GBX 1,729.45 and a 12 month high of GBX 2,359. The stock has a market capitalization of £13.00 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.51 and a beta of 0.84. The company has a debt-to-equity ratio of 33.33, a current ratio of 1.54 and a quick ratio of 0.93. The business has a fifty day moving average price of GBX 1,893.10 and a 200 day moving average price of GBX 2,025.47.

About Associated British Foods

Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.

Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.

Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.