Associated British Foods (LON:ABF) Receives a Downgrade
Goldman Sachs has issued an update for Associated British Foods (LON:ABF) shares with a new Sell rating in a comprehensive report revealed to investors on 3 December. Their target price on the stock is now GBX 3700.00.
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 3332.23 with a -5.92% below today’s (GBX 3562.79) 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 1.01% or GBX 36.21 on December 3, striking GBX 3562.79. Approximately 1.08M shares of stock traded hands or 75.77% up from the average. 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 28.30 billion GBP. The Firm operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. It has 52.9 P/E ratio. The Firm operates in five divisions, including Sugar, Agriculture, Retail, Grocery and Ingredients.