Citigroup Forecasts Strong Price Appreciation for Associated British Foods (LON:ABF) Stock

Key Points

• Citigroup raised its price target for Associated British Foods to GBX 1,550 from GBX 1,330, but maintained a “sell” rating, implying roughly 24.8% downside from the current price.
• Analyst sentiment remains cautious: ABF has a consensus “Reduce” rating, with four holds and three sells and an average price target of GBX 1,808.57.
• ABF shares were trading up 1.5% at GBX 2,062, while the company reported quarterly EPS of GBX 174.90 and revenue of GBX 1,945.90 billion.

Associated British Foods (LON:ABF - Get Free Report) had its target price upped by analysts at Citigroup from GBX 1,330 to GBX 1,550 in a research report issued to clients and investors on Thursday, London Stock Exchange reports. The firm presently has a "sell" rating on the stock. Citigroup's price objective would suggest a potential downside of 24.83% from the stock's current price.

ABF has been the topic of several other research reports. Shore Capital Group reiterated a "hold" rating and issued a GBX 2,010 target price on shares of Associated British Foods in a research report on Thursday, July 2nd. UBS Group reaffirmed a "neutral" rating and issued a GBX 2,050 price target on shares of Associated British Foods in a research note on Friday, June 26th. Jefferies Financial Group reissued an "underperform" rating and issued a GBX 1,650 price objective on shares of Associated British Foods in a research note on Wednesday, July 1st. JPMorgan Chase & Co. decreased their price objective on Associated British Foods from GBX 1,780 to GBX 1,700 and set a "neutral" rating on the stock in a report on Friday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a "hold" rating for the company in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average target price of GBX 1,808.57.

Associated British Foods Trading Up 1.5%

Shares of LON:ABF opened at GBX 2,062 on Thursday. 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 12-month low of GBX 1,729.45 and a 12-month high of GBX 2,359. The business has a 50 day moving average of GBX 2,027.16 and a two-hundred day moving average of GBX 1,924.78. The company has a market capitalization of £14.43 billion, a PE ratio of 15.47, a PEG ratio of 1.51 and a beta of 0.81.

Associated British Foods (LON:ABF - Get Free Report) last issued its quarterly earnings data on Wednesday, June 17th. The company reported GBX 174.90 EPS for the quarter. The business had revenue of GBX 1,945.90 billion for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. As a group, analysts forecast that Associated British Foods will post 188.0990415 EPS for the current year.

Associated British Foods Company Profile

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.

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