Associated British Foods (LON:ABF) Receives a Downgrade
Associated British Foods (LON:ABF)’s stock was lowered to a solid Underperform by equity analysts at RBC Capital Markets, who now has a PT of GBX 3000. Their target is -8.59% from ABF’s current share price.
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 2.08% above today’s (GBX 3268) stock price. Associated British Foods PLC was the topic of 88 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets downgraded shares on December 21 to “Underperform” 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.
Approximately 279,364 shares of stock traded hands. Associated British Foods plc (LON:ABF) has risen 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 25.87 billion GBP. The Firm operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. It has 48.53 P/E ratio. The Firm operates in five divisions, including Sugar, Agriculture, Retail, Grocery and Ingredients.