Associated British Foods’ (ABF) “Outperform” Rating Reiterated at Credit Suisse Group

Associated British Foods (LON:ABF)‘s stock had its “outperform” rating reiterated by investment analysts at Credit Suisse Group in a report issued on Wednesday. They currently have a GBX 3,700 ($50.18) price objective on the stock. Credit Suisse Group’s price objective indicates a potential upside of 30.60% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. reiterated a “buy” rating and set a GBX 3,700 ($50.18) price target on shares of Associated British Foods in a report on Thursday, November 2nd. Jefferies Group restated a “buy” rating and issued a GBX 3,600 ($48.82) price objective on shares of Associated British Foods in a research note on Tuesday, September 12th. Investec restated a “buy” rating and issued a GBX 3,410 ($46.24) price objective on shares of Associated British Foods in a research note on Wednesday, September 13th. Deutsche Bank restated a “buy” rating and issued a GBX 3,500 ($47.46) price objective on shares of Associated British Foods in a research note on Tuesday, October 24th. Finally, Goldman Sachs Group restated a “buy” rating and issued a GBX 3,585 ($48.62) price objective on shares of Associated British Foods in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of GBX 3,395.90 ($46.05).

Shares of Associated British Foods (ABF) traded down GBX 9 ($0.12) during trading on Wednesday, reaching GBX 2,833 ($38.42). The company had a trading volume of 274,138 shares, compared to its average volume of 861,533. Associated British Foods has a 1-year low of GBX 2,335 ($31.67) and a 1-year high of GBX 3,387 ($45.93). The company has a market capitalization of $22,430.00 and a P/E ratio of 1,863.82.

Associated British Foods (LON:ABF) last announced its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.72) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of GBX 125.90 ($1.71) by GBX 1.20 ($0.02). Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%. The business had revenue of GBX 1,535.70 billion during the quarter.

In other news, insider John Bason sold 21,716 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($41.27), for a total transaction of £660,817.88 ($896,145.76).

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About Associated British Foods

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.

Analyst Recommendations for Associated British Foods (LON:ABF)

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