Citigroup Issues Pessimistic Forecast for Associated British Foods (LON:ABF) Stock Price

Associated British Foods (LON:ABF – Get Free Report) had its target price dropped by equities researchers at Citigroup from GBX 1,550 to GBX 1,520 in a report issued on Wednesday, Digital Look reports. The firm currently has a “sector perform” rating on the stock. Citigroup’s price objective suggests a potential downside of 17.70% from the stock’s previous close.

Several other research firms have also recently commented on ABF. Deutsche Bank Aktiengesellschaft lowered 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 research note on Tuesday, May 26th. JPMorgan Chase & Co. reduced their price target on shares of Associated British Foods from GBX 1,700 to GBX 1,645 and set a “neutral” rating for the company in a research note on Friday, September 11th. 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. Jefferies Financial Group reiterated an “underperform” rating and set a GBX 1,650 price objective on shares of Associated British Foods in a research note on Wednesday, July 1st. Finally, Shore Capital Group reissued a “hold” rating and set a GBX 2,010 target price on shares of Associated British Foods in a report on Wednesday, September 9th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Associated British Foods currently has a consensus rating of “Reduce” and an average target price of GBX 1,796.43.

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Associated British Foods Price Performance

Shares of LON ABF opened at GBX 1,847 on Wednesday. Associated British Foods has a fifty-two week low of GBX 1,729.45 and a fifty-two week high of GBX 2,359. The firm’s 50-day simple moving average is GBX 2,012.11 and its 200 day simple moving average is GBX 1,920.87. The company has a quick ratio of 0.93, a current ratio of 1.51 and a debt-to-equity ratio of 32.63. The stock has a market cap of £12.90 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.51 and a beta of 0.81.

About Associated British Foods

(Get Free Report)

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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