Credit Suisse Group Cuts Associated British Foods (LON:ABF) Price Target to GBX 2,950

Associated British Foods (LON:ABF) had its target price cut by Credit Suisse Group from GBX 3,300 ($42.99) to GBX 2,950 ($38.43) in a research report released on Tuesday, September 11th. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on the stock. Barclays dropped their target price on shares of Associated British Foods from GBX 3,340 ($43.51) to GBX 3,280 ($42.73) and set an overweight rating for the company in a report on Tuesday, September 11th. Kepler Capital Markets dropped their target price on shares of Associated British Foods from GBX 3,000 ($39.08) to GBX 2,600 ($33.87) and set a buy rating for the company in a report on Tuesday, September 11th. Liberum Capital reaffirmed a buy rating and issued a GBX 3,500 ($45.59) target price on shares of Associated British Foods in a report on Monday, September 10th. UBS Group reaffirmed a buy rating on shares of Associated British Foods in a report on Friday, September 7th. Finally, Shore Capital reaffirmed a buy rating on shares of Associated British Foods in a report on Friday, September 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of GBX 3,146.40 ($40.98).

Shares of ABF stock traded up GBX 27 ($0.35) during mid-day trading on Tuesday, reaching GBX 2,289 ($29.82). 1,218,819 shares of the company’s stock traded hands, compared to its average volume of 972,940. Associated British Foods has a 12 month low of GBX 2,476 ($32.25) and a 12 month high of GBX 3,387 ($44.12).

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

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