Associated British Foods PLC (LON:ABF) Receives a Downgrade
Goldman Sachs lowered their rating for shares of Associated British Foods PLC (LON:ABF) stock to a solid “Sell”. This change was distributed in an analyst note earlier today. The financial company currently now has a GBX 3700.00 target price per share on firm.
From a total of 22 analysts covering Associated British Foods PLC (LON:ABF) stock, 9 rate it a ”Buy”, 3 a “Sell”, and 12 a ”Hold”. This means that 38% of the ratings are positive. The highest target price is GBX 3760 while the lowest target price is GBX 2600. The mean of all analyst targets is GBX 3314.95 with a -6.56% below today’s (GBX 3587.01) stock price. Associated British Foods PLC was the topic of 84 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs downgraded shares on December 3 to “Sell” rating. Bernstein maintained shares with “Market Perform” rating and GBX 3200 target share price in a report from a November 11. Credit Suisse maintained ABF stock in a recent report from November 30 with “Outperform” rating. J.P. Morgan maintained the rating on November 10. J.P. Morgan has a “Overweight” rating and a GBX 3700 price target on shares. Finally, Berenberg maintained the stock with “Hold” rating in a report issued on a November 11.
The stock decreased 0.33% or GBX 11.99 on December 2, striking GBX 3587.01. Approximately shares of stock traded hands. Associated British Foods plc (LON:ABF) has risen 26.06% since May 6, 2015 and is uptrending. It has outperformed by 26.35% the S&P500.
Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The company has a market cap of 28.49 billion GBP. The Firm operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. It has 53.26 P/E ratio. The Firm operates in five divisions, including Sugar, Agriculture, Retail, Grocery and Ingredients.