Associated British Foods (ABF) Earns “Outperform” Rating from Credit Suisse Group

Associated British Foods (LON:ABF)‘s stock had its “outperform” rating reaffirmed by stock analysts at Credit Suisse Group in a research report issued to clients and investors on Thursday. They presently have a GBX 3,700 ($49.80) target price on the stock. Credit Suisse Group’s price objective points to a potential upside of 26.71% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Deutsche Bank reiterated a “buy” rating and issued a GBX 3,500 ($47.11) target price on shares of Associated British Foods in a report on Tuesday, October 24th. Macquarie started coverage on Associated British Foods in a report on Friday, October 27th. They issued an “underperform” rating and a GBX 2,900 ($39.03) target price for the company. Liberum Capital reiterated a “buy” rating and issued a GBX 3,150 ($42.40) target price on shares of Associated British Foods in a report on Wednesday, August 30th. Goldman Sachs Group reiterated a “buy” rating and issued a GBX 3,585 ($48.25) target price on shares of Associated British Foods in a report on Monday, September 11th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a GBX 3,600 ($48.45) target price on shares of Associated British Foods in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of GBX 3,415.90 ($45.97).

Associated British Foods (LON ABF) opened at GBX 2,920 ($39.30) on Thursday. Associated British Foods has a 52-week low of GBX 2,335 ($31.43) and a 52-week high of GBX 3,387 ($45.59).

Associated British Foods (LON:ABF) last released its quarterly earnings results on Tuesday, November 7th. The company reported GBX 127.10 ($1.71) EPS for the quarter, topping the consensus estimate of GBX 125.90 ($1.69) by GBX 1.20 ($0.02). Associated British Foods had a return on equity of 12.97% and a net margin of 7.01%. The business had revenue of GBX 1,535.70 billion during the quarter.

In other news, insider John Bason sold 21,716 shares of Associated British Foods stock in a transaction dated Monday, November 27th. The stock was sold at an average price of GBX 3,043 ($40.96), for a total transaction of £660,817.88 ($889,391.49).

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About Associated British Foods

Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.

Analyst Recommendations for Associated British Foods (LON:ABF)

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