Analysts Set Associated British Foods plc (ABF) Target Price at $3,151.44

Shares of Associated British Foods plc (LON:ABF) have been given a consensus rating of “Buy” by the eighteen research firms that are currently covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is GBX 3,157.69 ($41.65).

Several brokerages have commented on ABF. Numis Securities Ltd restated a “hold” rating and issued a GBX 2,923 ($38.56) target price on shares of Associated British Foods plc in a research note on Friday, April 21st. Liberum Capital reaffirmed a “buy” rating and issued a GBX 3,150 ($41.55) price target on shares of Associated British Foods plc in a report on Tuesday, June 27th. Credit Suisse Group raised their price target on Associated British Foods plc from GBX 3,200 ($42.21) to GBX 3,350 ($44.19) and gave the company an “outperform” rating in a report on Thursday, July 6th. Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods plc in a report on Thursday, July 6th. Finally, Deutsche Bank AG raised their price target on Associated British Foods plc from GBX 3,200 ($42.21) to GBX 3,300 ($43.53) and gave the company a “buy” rating in a report on Friday, July 7th.

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Associated British Foods plc (LON ABF) traded up 1.20% on Friday, reaching GBX 3109.00. The company had a trading volume of 674,102 shares. The stock’s 50-day moving average price is GBX 2,943.04 and its 200-day moving average price is GBX 2,751.43. The stock’s market capitalization is GBX 24.56 billion. Associated British Foods plc has a 12-month low of GBX 2,335.00 and a 12-month high of GBX 3,183.00.

About Associated British Foods plc

Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.