Associated British Foods (LON:ABF) Stock Keeps "Hold" Rating at Shore Capital Group

Key Points

• Shore Capital Group maintained a “hold” rating on Associated British Foods and set a GBX 1,910 price target, implying 3.86% potential upside from the previous close.
• Analyst sentiment remains cautious: MarketBeat reports an average rating of “Reduce” and an average price target of GBX 1,782.14, based on five hold ratings and two sell ratings.
• ABF shares opened at GBX 1,839, below both their 50-day moving average of GBX 1,982.78 and 200-day moving average of GBX 1,919.51; the stock’s market capitalization is approximately £12.84 billion.

Associated British Foods (LON:ABF - Get Free Report)'s stock had its "hold" rating restated by analysts at Shore Capital Group in a report issued on Tuesday, Digital Look reports. They presently have a GBX 1,910 price objective on the stock. Shore Capital Group's price target points to a potential upside of 3.86% from the stock's previous close.

A number of other research firms have also issued reports on ABF. UBS Group reiterated a "neutral" rating and issued a GBX 2,050 target price on shares of Associated British Foods in a research note on Friday, June 26th. Citigroup decreased their price target on shares of Associated British Foods from GBX 1,550 to GBX 1,520 and set a "sector perform" rating for the company in a report on Wednesday, September 23rd. Jefferies Financial Group reaffirmed an "underperform" rating and issued a GBX 1,650 price target on shares of Associated British Foods in a research report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Associated British Foods from GBX 1,700 to GBX 1,645 and set a "neutral" rating on the stock in a research note on Friday, September 11th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average price target of GBX 1,782.14.

Associated British Foods Price Performance

Shares of Associated British Foods stock opened at GBX 1,839 on Tuesday. The firm has a fifty day simple moving average of GBX 1,982.78 and a 200-day simple moving average of GBX 1,919.51. The company has a current ratio of 1.51, a quick ratio of 0.93 and a debt-to-equity ratio of 32.63. Associated British Foods has a 1-year low of GBX 1,729.45 and a 1-year high of GBX 2,359. The stock has a market capitalization of £12.84 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.51 and a beta of 0.81.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.