Associated British Foods (ASBFY) Receives Lower Rating From Goldman. What’s The Reasoning Behind This Move?

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Associated British Foods (ASBFY) Receives a Downgrade

It appears that trading for shares of Associated British Foods (ASBFY) will be interesting to watch today. Goldman cut the stock from their past Buy rating to a more current Sell.

From a total of 1 analysts covering Associated British Foods (ASBFY) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 0% of the ratings are positive. Associated British Foods was the topic of 3 analyst reports since October 13, 2015 according to the firm StockzIntelligence Inc. Berenberg downgraded shares on October 19 to “Hold” rating. Citigroup downgraded ASBFY stock in a recent report from October 13 to “Neutral” rating.

Approximately 2,625 shares of stock traded hands. Associated British Foods plc (ADR) (ASBFY) has risen 21.41% since April 30, 2015 and is uptrending. It has outperformed by 21.70% the S&P500.

Associated British Foods (ASBFY) Receives Lower Rating From Goldman. What’s The Reasoning Behind This Move?

Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The company has a market cap of $42.51 billion. The Firm operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. It currently has negative earnings. The Firm operates in five divisions, including Sugar, Agriculture, Retail, Grocery and Ingredients.

According to Zacks Investment Research, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology.” Get a free copy of the Zacks research report on Associated British Foods plc (ADR) (ASBFY).

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