Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Associated British Foods (LON:ABF) Stock Price

Key Points

• Deutsche Bank raised its Associated British Foods price target to GBX 1,820 from GBX 1,790, but maintained a “hold” rating; the new target implies 8.34% downside from the current share price.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Reduce” rating and an average price target of GBX 1,777.86, with five analysts rating the stock “Hold” and two rating it “Sell.”
• ABF reported quarterly earnings of GBX 156 per share and revenue of GBX 1,958.20 billion; analysts expect full-year earnings of GBX 188.10 per share.

Associated British Foods (LON:ABF - Get Free Report) had its price target hoisted by analysts at Deutsche Bank Aktiengesellschaft from GBX 1,790 to GBX 1,820 in a report released on Friday, Digital Look reports. The firm currently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective indicates a potential downside of 8.34% from the stock's current price.

A number of other equities analysts have also recently commented on the stock. Citigroup dropped their price objective 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 research note on Wednesday, September 23rd. JPMorgan Chase & Co. decreased their target price on shares of Associated British Foods from GBX 1,700 to GBX 1,645 and set a "neutral" rating on the stock in a research report on Friday, September 11th. Shore Capital Group reaffirmed a "hold" rating and issued a GBX 1,910 price target on shares of Associated British Foods in a report on Tuesday, October 6th. Finally, Jefferies Financial Group reiterated an "underperform" rating and issued a GBX 1,650 price target on shares of Associated British Foods in a research report on Wednesday, November 4th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Associated British Foods has an average rating of "Reduce" and a consensus price target of GBX 1,777.86.

Associated British Foods Trading Down 0.2%

ABF stock opened at GBX 1,985.50 on Friday. The firm has a fifty day moving average price of GBX 1,907.99 and a 200 day moving average price of GBX 1,917.66. Associated British Foods has a fifty-two week low of GBX 1,729.45 and a fifty-two week high of GBX 2,288. The company has a debt-to-equity ratio of 33.20, a quick ratio of 0.93 and a current ratio of 1.50. The firm has a market cap of £13.88 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81.

Associated British Foods (LON:ABF - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported GBX 156 earnings per share for the quarter. The company had revenue of GBX 1,958.20 billion for the quarter. Associated British Foods had a net margin of 4.75% and a return on equity of 8.06%. Sell-side analysts anticipate that Associated British Foods will post 188.10 earnings per share for the current fiscal year.

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.

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