Associated British Foods (LON:ABF) Price Target Raised to GBX 1,550 at Citigroup

Associated British Foods (LON:ABF) had its target price increased by investment analysts at Citigroup from GBX 1,330 to GBX 1,550 in a research report issued on Thursday, London Stock Exchange reports. The brokerage presently has a “sell” rating on the stock. Citigroup’s price target suggests a potential downside of 24.83% from the company’s current price.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reduced their price target on Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating for the company in a report on Tuesday, May 26th. Jefferies Financial Group restated an “underperform” rating and set a GBX 1,650 price objective on shares of Associated British Foods in a research report on Wednesday, July 1st. JPMorgan Chase & Co. reduced their target price on shares of Associated British Foods from GBX 1,780 to GBX 1,700 and set a “neutral” rating on the stock in a report on Friday, July 3rd. Shore Capital Group reissued a “hold” rating and issued a GBX 2,010 target price on shares of Associated British Foods in a research report on Thursday, July 2nd. Finally, UBS Group reaffirmed a “neutral” rating and set a GBX 2,050 price target on shares of Associated British Foods in a research report on Friday, June 26th. Four investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Associated British Foods currently has a consensus rating of “Reduce” and a consensus target price of GBX 1,808.57.

Associated British Foods Trading Up 1.5%

LON:ABF opened at GBX 2,062 on Thursday. The stock has a market cap of £14.43 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.51 and a beta of 0.81. The company has a debt-to-equity ratio of 32.63, a quick ratio of 0.93 and a current ratio of 1.51. 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 50-day simple moving average of GBX 2,027.16 and a 200-day simple moving average of GBX 1,924.78.

Associated British Foods (LON:ABF) last issued its earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share (EPS) for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. The business had revenue of GBX 1,945.90 billion during the quarter. As a group, analysts anticipate that Associated British Foods will post 188.0990415 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.