Associated British Foods (LON:ABF) Upgraded at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft upgraded Associated British Foods (LON:ABF) to a "hold" rating, adjusting their price target down to GBX 2,000, indicating a potential upside of only 0.65% from the stock's current price.
• Shore Capital maintained a "buy" rating on the company, contributing to a general consensus of a "Moderate Buy" with an average price target of GBX 2,150.
• Insider Eoin Tonge sold 16,741 shares at an average price of GBX 2,070, representing a total transaction value of £346,538.70.

Associated British Foods (LON:ABF - Get Free Report) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft to a "hold" rating in a research note issued to investors on Wednesday,Digital Look reports. The brokerage presently has a GBX 2,000 price target on the stock, down from their previous price target of GBX 2,130. Deutsche Bank Aktiengesellschaft's target price indicates a potential upside of 0.65% from the stock's current price.

Separately, Shore Capital reaffirmed 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 and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of GBX 2,150.

Associated British Foods Price Performance

Shares of LON ABF opened at GBX 1,987 on Wednesday. The stock has a market capitalization of £14.14 billion, a PE ratio of 1,120.70, a P/E/G ratio of 1.51 and a beta of 1.24. The company has a debt-to-equity ratio of 32.88, a current ratio of 1.78 and a quick ratio of 0.93. The business has a fifty day moving average price of GBX 2,178.01 and a two-hundred day moving average price of GBX 2,086.10. Associated British Foods has a fifty-two week low of GBX 1,818.87 and a fifty-two week high of GBX 2,440.

Insiders Place Their Bets

In related news, insider Eoin Tonge sold 16,741 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of GBX 2,070, for a total transaction of £346,538.70. 1.49% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.