Associated British Foods (LON:ABF – Get Free Report) had its price objective decreased by equities research analysts at JPMorgan Chase & Co. from GBX 1,700 to GBX 1,645 in a research report issued to clients and investors on Friday, London Stock Exchange reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 12.20% from the stock’s previous close.
ABF has been the subject of a number of other research reports. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,650 price target on shares of Associated British Foods in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Associated British Foods from GBX 1,925 to GBX 1,850 and set a “hold” rating on the stock in a report on Tuesday, May 26th. UBS Group reiterated a “neutral” rating and issued a GBX 2,050 price objective on shares of Associated British Foods in a report on Friday, June 26th. Citigroup lifted their target price on shares of Associated British Foods from GBX 1,330 to GBX 1,550 and gave the company a “sell” rating in a research note on Thursday, September 3rd. Finally, Shore Capital Group reiterated a “hold” rating and issued a GBX 2,010 price objective on shares of Associated British Foods in a report on Wednesday. Four investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of GBX 1,800.71.
View Our Latest Report on Associated British Foods
Associated British Foods Stock Up 0.7%
Associated British Foods (LON:ABF – Get Free Report) last posted its earnings results on Wednesday, June 17th. The company reported GBX 174.90 earnings per share for the quarter. Associated British Foods had a net margin of 4.89% and a return on equity of 8.44%. The firm had revenue of GBX 1,945.90 billion during the quarter. On average, equities research analysts anticipate that Associated British Foods will post 188.0990415 EPS for the current year.
Key Associated British Foods News
Here are the key news stories impacting Associated British Foods this week:
- Positive Sentiment: ABF expects full-year adjusted earnings per share to come in ahead of market forecasts. Progress on plans to separate or demerge Primark also provides a potential catalyst by highlighting the value of the fast-growing retail division. ABF Expects FY Adjusted EPS Ahead of Forecast as Primark Demerger Plans Progress
- Positive Sentiment: Primark plans to introduce home delivery in Great Britain, expanding its sales reach and potentially improving convenience and digital engagement. The initiative could support longer-term revenue growth, although its immediate financial contribution is uncertain. AB Foods’ Primark to offer home delivery in Britain
- Positive Sentiment: Grocery sales are rising as the integration of Hovis progresses, suggesting benefits from the acquisition and improved execution in ABF’s food operations. ABF grocery sales rise as Hovis integration gathers pace
- Neutral Sentiment: Shore Capital reaffirmed its “hold” rating and set a GBX 2,010 price target, indicating limited conviction despite potential upside from the company’s restructuring and earnings outlook. Shore Capital reaffirms hold rating
- Negative Sentiment: ABF warned that Primark’s performance in Europe is weakening, leading to a lower sales outlook for the retailer. Because Primark is a major contributor to group earnings, the update has increased concern about near-term profit growth. ABF Shares Plunge on Weak Primark Performance in Europe
- Negative Sentiment: The sugar division is expected to produce a larger loss, adding pressure to group earnings and offsetting some of the strength in grocery and the positive adjusted-EPS outlook.
- Negative Sentiment: Unusually hot summer weather affected demand for Twinings tea and Ovaltine, creating an additional profit headwind in ABF’s branded grocery portfolio. Hot summer hits Twinings sales
About Associated British Foods
Associated British Foods is a diversified international food, ingredients and retail group with sales of £13.9bn, 128,000 employees and operations in 53 countries across Europe, Africa, the Americas, Asia and Australia.
Our purpose is to provide safe, nutritious, affordable food, and clothing that is great value for money. With the breadth of our business, our brands and global reach, ABF aims to consistently deliver value to its stakeholders.
Our business is split into five segments: Grocery; Sugar; Agriculture; Ingredients; and Retail.
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