Associated British Foods PLC (LON:ABF) Receives a Downgrade
The stock rating of Associated British Foods PLC (LON:ABF) was cut by analysts at RBC Capital Markets to a “Underperform”. This has been announced in a recent research report revealed to investors on 21 December. RBC Capital Markets after the upgrade has a GBX 3000.00 target price on the shares, which suggests a possible downside of -9.83%.
From a total of 22 analysts covering Associated British Foods PLC (LON:ABF) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is GBX 3900 while the lowest target price is GBX 2600. The mean of all analyst targets is GBX 3381.32 with a 1.22% above today’s (GBX 3327) stock price. Associated British Foods PLC was the topic of 87 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on December 7 with “Sector Perform” rating. Credit Suisse maintained shares with “Outperform” rating and GBX 3250 target share price in a report from a November 30. UBS maintained ABF stock in a recent report from December 3 with “Neutral” rating. Liberum Capital maintained the rating on November 17. Liberum Capital has a “Buy” rating and a GBX 3750 price target on shares. Finally, Barclays Capital maintained the stock with “Overweight” rating in a report issued on a December 2.
The stock closed the day at GBX 3327 during the previous session. It is down 13.39% since May 22, 2015 and is uptrending. It has outperformed by 19.20% 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 26.34 billion GBP. The Firm operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. It has 49.4 P/E ratio. The Firm operates in five divisions, including Sugar, Agriculture, Retail, Grocery and Ingredients.