Sanford C. Bernstein Begins Coverage on Associated British Foods (LON:ABF)

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Sanford C. Bernstein initiated coverage on shares of Associated British Foods (LON:ABF) in a research report report published on Wednesday, Stock Target Advisor reports. The brokerage issued an outperform rating and a GBX 3,125 ($41.11) target price on the stock.

Several other analysts have also recently weighed in on ABF. Liberum Capital reaffirmed a buy rating on shares of Associated British Foods in a report on Thursday, January 16th. Shore Capital reaffirmed a buy rating on shares of Associated British Foods in a report on Thursday, January 16th. Barclays reaffirmed an overweight rating on shares of Associated British Foods in a report on Friday, January 17th. UBS Group reaffirmed a buy rating on shares of Associated British Foods in a report on Wednesday, November 6th. Finally, Jefferies Financial Group increased their price target on shares of Associated British Foods from GBX 2,950 ($38.81) to GBX 3,020 ($39.73) and gave the company a buy rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Associated British Foods has an average rating of Buy and a consensus price target of GBX 2,936.82 ($38.63).

Shares of LON:ABF opened at GBX 2,669 ($35.11) on Wednesday. The firm’s 50 day moving average price is GBX 2,640.20 and its 200 day moving average price is GBX 2,432.30. The stock has a market cap of $21.13 billion and a price-to-earnings ratio of 24.02. Associated British Foods has a fifty-two week low of GBX 2,078.81 ($27.35) and a fifty-two week high of GBX 2,730 ($35.91). The company has a quick ratio of 0.91, a current ratio of 1.82 and a debt-to-equity ratio of 6.16.

In other Associated British Foods news, insider John Bason sold 20,827 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of GBX 2,536 ($33.36), for a total value of £528,172.72 ($694,781.27).

About Associated British Foods

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, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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