Associated British Foods (LON:ABF) Price Target Raised to GBX 1,830

Key Points

• Associated British Foods (LON:ABF) had its price target increased from GBX 1,770 to GBX 1,830 by Citigroup, despite maintaining a "sell" rating on the stock.
• Other firms have varying ratings on the stock, with Deutsche Bank downgrading its price objective to GBX 2,000 while also assigning a "hold" rating, highlighting some analyst divergence.
• The company's stock has a current price of GBX 2,221, which is significantly above its 52-week low of GBX 1,818.87 and indicates a volatile trading history.

Associated British Foods (LON:ABF - Get Free Report) had its target price upped by equities research analysts at Citigroup from GBX 1,770 to GBX 1,830 in a research note issued on Monday,Digital Look reports. The brokerage presently has a "sell" rating on the stock. Citigroup's target price indicates a potential downside of 17.60% from the company's current price.

A number of other research firms have also commented on ABF. Deutsche Bank Aktiengesellschaft upgraded shares of Associated British Foods to a "hold" rating and lowered their price objective for the company from GBX 2,130 to GBX 2,000 in a research note on Wednesday, September 24th. Shore Capital restated a "buy" rating on shares of Associated British Foods in a report on Thursday, September 18th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Associated British Foods currently has a consensus rating of "Hold" and an average price target of GBX 2,043.33.

Associated British Foods Price Performance

Shares of LON:ABF opened at GBX 2,221 on Monday. The firm's 50 day moving average is GBX 2,142 and its two-hundred day moving average is GBX 2,111.53. Associated British Foods has a 52 week low of GBX 1,818.87 and a 52 week high of GBX 2,440. The firm has a market capitalization of £15.80 billion, a P/E ratio of 12.53, a PEG ratio of 1.51 and a beta of 1.24. The company has a current ratio of 1.78, a quick ratio of 0.93 and a debt-to-equity ratio of 32.88.

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.

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