Rating Change: Goldman Sachs Reiterates a “Neutral” Rating on Associated British Foods PLC (LON:ABF) and GBX 2650.00 Target

November 28, 2016 - By whatsonthorold

Associated British Foods PLC (LON:ABF) Rating

Associated British Foods PLC (LON:ABF) had its stock rating noted as “Neutral” by analysts at Goldman Sachs. Goldman Sachs currently has a GBX 2650.00 target price on the 20.72 billion GBP market cap company or 2.34% upside potential. This was released in a note on Monday, 28 November.

Associated British Foods plc (LON:ABF) Ratings Coverage

Out of 27 analysts covering Associated British Foods PLC (LON:ABF), 12 rate it a “Buy”, 2 “Sell”, while 13 “Hold”. This means 44% are positive. GBX 4000 is the highest target while GBX 2300 is the lowest. The GBX 3053.04 average target is 16.66% above today’s (GBX 2617) stock price. Associated British Foods PLC has been the topic of 214 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Tuesday, September 15 by Liberum Capital. Credit Suisse maintained it with “Outperform” rating and GBX 3250 target price in Monday, November 30 report. The stock of Associated British Foods plc (LON:ABF) earned “Market Perform” rating by Bernstein on Thursday, January 28. HSBC maintained the stock with “Buy” rating in Wednesday, April 13 report. The stock of Associated British Foods plc (LON:ABF) has “Market Perform” rating given on Tuesday, October 6 by Bernstein. The company was maintained on Wednesday, November 4 by Liberum Capital. JP Morgan maintained Associated British Foods plc (LON:ABF) rating on Friday, October 16. JP Morgan has “Overweight” rating and GBX 3400 price target. The stock has “Outperform” rating given by BNP Paribas on Thursday, August 6. The stock has “Underperform” rating given by RBC Capital Markets on Monday, April 18. The company was maintained on Thursday, September 24 by Liberum Capital.

About 71,805 shares traded hands. Associated British Foods plc (LON:ABF) has declined 14.88% since April 29, 2016 and is downtrending. It has underperformed by 20.90% 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 20.72 billion GBP. The Firm operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. It has a 25.31 P/E ratio. The Firm operates in five divisions, including Sugar, Agriculture, Retail, Grocery and Ingredients.

More recent Associated British Foods plc (LON:ABF) news were published by: Wsj.com which released: “Associated British Foods Roiled by Sterling After Brexit Vote” on September 12, 2016. Also Wsj.com published the news titled: “Associated British Foods Mulls China Sugar-Business Sale for Up to $1 Billion” on May 10, 2016. Fool.Co.Uk‘s news article titled: “Should you buy Unilever plc and Associated British Foods plc on the dip?” with publication date: October 18, 2016 was also an interesting one.

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