Associated British Foods plc (LON:ABF) Receives Average Recommendation of "Reduce" from Analysts

Key Points

• Associated British Foods has a consensus “Reduce” rating from seven analysts: two recommend selling and five recommend holding. The average 12-month price target is GBX 1,796.43.
• Several brokerages recently cut their price targets, including Citigroup to GBX 1,520 and JPMorgan to GBX 1,645; Jefferies maintained an “underperform” rating with a GBX 1,650 target.
• ABF shares opened at GBX 1,823.50, below their 50-day and 200-day moving averages, with a market capitalization of approximately £12.73 billion and a 52-week range of GBX 1,729.45 to GBX 2,359.

Associated British Foods plc (LON:ABF - Get Free Report) has been given a consensus rating of "Reduce" by the seven analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is GBX 1,796.43.

ABF has been the topic of several recent research reports. Citigroup reduced their price target on Associated British Foods from GBX 1,550 to GBX 1,520 and set a "sector perform" rating on the stock in a research report on Wednesday, September 23rd. JPMorgan Chase & Co. decreased their price target on shares of Associated British Foods from GBX 1,700 to GBX 1,645 and set a "neutral" rating for the company in a research note on Friday, September 11th. Jefferies Financial Group reissued an "underperform" rating and set a GBX 1,650 price target on shares of Associated British Foods in a research report on Wednesday, July 1st. Shore Capital Group reissued a "hold" rating and set a GBX 2,010 target price on shares of Associated British Foods in a report on Wednesday, September 9th. Finally, UBS Group restated 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.

Associated British Foods Stock Performance

Shares of Associated British Foods stock opened at GBX 1,823.50 on Monday. The firm has a 50 day simple moving average of GBX 1,986.68 and a 200 day simple moving average of GBX 1,920. The firm has a market cap of £12.73 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.51 and a beta of 0.81. Associated British Foods has a fifty-two week low of GBX 1,729.45 and a fifty-two week high of GBX 2,359. The company has a debt-to-equity ratio of 32.63, a current ratio of 1.51 and a quick ratio of 0.93.

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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