UBS upgraded shares of Associated British Foods (LON:ABF) to a buy rating in a research note released on Tuesday, May 8th, investing.thisismoney.co.uk reports. They currently have GBX 3,150 ($42.73) price objective on the stock.
Several other equities research analysts have also recently issued reports on ABF. Credit Suisse Group decreased their target price on shares of Associated British Foods from GBX 3,700 ($50.19) to GBX 3,300 ($44.76) and set an outperform rating on the stock in a research report on Friday, May 4th. Royal Bank of Canada reissued a sector performer rating and issued a GBX 3,100 ($42.05) target price on shares of Associated British Foods in a research report on Monday, January 8th. Liberum Capital reaffirmed a buy rating and set a GBX 3,500 ($47.48) price target on shares of Associated British Foods in a research report on Tuesday, April 17th. HSBC reduced their price target on shares of Associated British Foods from GBX 3,700 ($50.19) to GBX 3,600 ($48.83) and set a buy rating on the stock in a research report on Monday, April 23rd. Finally, JPMorgan Chase reissued an overweight rating on shares of Associated British Foods in a research report on Wednesday, April 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nineteen have given a buy rating to the stock. Associated British Foods presently has an average rating of Buy and a consensus price target of GBX 3,324.90 ($45.10).
Shares of Associated British Foods opened at GBX 2,748.34 ($37.28) on Tuesday, according to MarketBeat.com. Associated British Foods has a 12 month low of GBX 2,476 ($33.59) and a 12 month high of GBX 3,387 ($45.94).
The firm also recently announced a dividend, which will be paid on Friday, July 6th. Shareholders of record on Thursday, June 7th will be paid a dividend of GBX 11.70 ($0.16) per share. The ex-dividend date is Thursday, June 7th. This represents a yield of 0.43%.
In other Associated British Foods news, insider Michael McLintock bought 7,500 shares of the stock in a transaction on Wednesday, April 18th. The stock was purchased at an average price of GBX 2,688 ($36.46) per share, for a total transaction of £201,600 ($273,467.17).
Associated British Foods Company Profile
Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.
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