Numis Securities Ltd Downgrades Associated British Foods plc (ABF) to Hold

Associated British Foods plc (LON:ABF) was downgraded by equities researchers at Numis Securities Ltd to a “hold” rating in a research note issued on Friday. They presently have a GBX 2,860 ($35.32) target price on the stock, down from their prior target price of GBX 3,128 ($38.63). Numis Securities Ltd’s target price would indicate a potential upside of 7.56% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank AG restated a “buy” rating and set a GBX 3,200 ($39.52) price objective on shares of Associated British Foods plc in a report on Tuesday, December 20th. Liberum Capital restated a “buy” rating and set a GBX 3,100 ($38.29) price objective on shares of Associated British Foods plc in a report on Monday, February 27th. HSBC Holdings plc restated a “buy” rating and set a GBX 3,350 ($41.37) price objective on shares of Associated British Foods plc in a report on Monday, January 23rd. Kepler Capital Markets restated a “hold” rating and set a GBX 2,700 ($33.35) price objective on shares of Associated British Foods plc in a report on Thursday, December 15th. Finally, Shore Capital upgraded Associated British Foods plc to a “buy” rating in a report on Wednesday, February 15th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of GBX 2,985.28 ($36.87).

Analyst Recommendations for Associated British Foods plc (LON:ABF)

Shares of Associated British Foods plc (LON:ABF) opened at 2633.00 on Friday. The company’s market cap is GBX 20.80 billion. The company has a 50-day moving average price of GBX 2,553.83 and a 200-day moving average price of GBX 2,611.52. Associated British Foods plc has a 1-year low of GBX 1,910.00 and a 1-year high of GBX 3,465.00.

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In other Associated British Foods plc news, insider Ruth Cairnie acquired 876 shares of the business’s stock in a transaction on Thursday, February 9th. The shares were acquired at an average price of GBX 2,489 ($30.74) per share, with a total value of £21,803.64 ($26,928.05).

Associated British Foods plc Company Profile

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.

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