Shore Capital Group Reaffirms "Hold" Rating for Associated British Foods (LON:ABF)

Key Points

• Shore Capital Group reaffirmed a Hold on Associated British Foods (LON:ABF), while several brokers have cut targets and ratings, leaving a MarketBeat consensus rating of Reduce with a consensus target of GBX 1,806.25.
• ABF opened at GBX 1,825.50 with a market cap of £12.88bn and a P/E of 12.89, trading below both its 50‑day (GBX 1,896.41) and 200‑day (GBX 2,039.70) moving averages and close to the consensus target.

Associated British Foods (LON:ABF - Get Free Report)'s stock had its "hold" rating reiterated by Shore Capital Group in a report issued on Friday,London Stock Exchange reports.

A number of other research analysts have also recently weighed in on ABF. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Associated British Foods from GBX 2,100 to GBX 1,925 and set a "hold" rating for the company in a report on Thursday, January 8th. Jefferies Financial Group reissued an "underperform" rating and set a GBX 1,650 target price on shares of Associated British Foods in a research note on Friday, January 9th. Citigroup dropped their target price on Associated British Foods from GBX 1,830 to GBX 1,710 and set a "sell" rating on the stock in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. cut their price target on Associated British Foods from GBX 2,095 to GBX 1,940 and set a "neutral" rating for the company in a research note on Friday, January 9th. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of GBX 1,806.25.

Associated British Foods Stock Performance

ABF opened at GBX 1,825.50 on Friday. The company has a debt-to-equity ratio of 33.33, a current ratio of 1.54 and a quick ratio of 0.93. The firm has a fifty day moving average price of GBX 1,896.41 and a 200 day moving average price of GBX 2,039.70. Associated British Foods has a 1 year low of GBX 1,729.45 and a 1 year high of GBX 2,359. The stock has a market cap of £12.88 billion, a P/E ratio of 12.89, a P/E/G ratio of 1.51 and a beta of 0.89.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.