Shore Capital Reaffirms Buy Rating for Associated British Foods (LON:ABF)

Shore Capital restated their buy rating on shares of Associated British Foods (LON:ABF) in a research note published on Thursday, ThisIsMoney.Co.Uk reports.

ABF has been the topic of a number of other research reports. Barclays reiterated an overweight rating and issued a GBX 2,300 ($28.30) price target on shares of Associated British Foods in a research note on Tuesday, June 2nd. Goldman Sachs Group lowered shares of Associated British Foods to a neutral rating and upped their price target for the company from GBX 2,250 ($27.69) to GBX 2,360 ($29.04) in a research note on Friday, July 3rd. Credit Suisse Group upped their price target on shares of Associated British Foods from GBX 2,200 ($27.07) to GBX 2,530 ($31.13) and gave the company an outperform rating in a research note on Friday, July 3rd. Societe Generale cut their price objective on shares of Associated British Foods from GBX 2,114 ($26.02) to GBX 2,028 ($24.96) and set a hold rating for the company in a report on Thursday, June 4th. Finally, Redburn Partners downgraded shares of Associated British Foods to a neutral rating in a report on Friday, May 15th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of GBX 2,516.29 ($30.97).

Shares of ABF opened at GBX 1,765 ($21.72) on Thursday. Associated British Foods has a 52 week low of GBX 1,554 ($19.12) and a 52 week high of GBX 2,730 ($33.60). The firm has a market cap of $13.97 billion and a P/E ratio of 19.74. The firm’s 50-day simple moving average is GBX 1,932.79 and its 200 day simple moving average is GBX 2,067.32. The company has a debt-to-equity ratio of 44.99, a quick ratio of 0.96 and a current ratio of 1.76.

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

Featured Story: Street Name

Analyst Recommendations for Associated British Foods (LON:ABF)

Receive News & Ratings for Associated British Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Associated British Foods and related companies with MarketBeat.com's FREE daily email newsletter.