JPMorgan Chase & Co. Cuts Associated British Foods (LON:ABF) Price Target to GBX 2,095

Associated British Foods (LON:ABF) had its price objective cut by JPMorgan Chase & Co. from GBX 2,215 to GBX 2,095 in a research note published on Wednesday morning, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently weighed in on ABF. Citigroup boosted their price target on shares of Associated British Foods from GBX 1,770 to GBX 1,830 and gave the company a “sell” rating in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft raised shares of Associated British Foods to a “hold” rating and reduced their target price for the stock from GBX 2,130 to GBX 2,000 in a research note on Wednesday, September 24th. Finally, Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of GBX 2,056.25.

Associated British Foods Price Performance

Associated British Foods stock opened at GBX 2,261.61 on Wednesday. The stock has a market capitalization of £16.09 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.51 and a beta of 1.24. The company’s fifty day moving average price is GBX 2,141.14 and its 200 day moving average price is GBX 2,135.03. The company has a debt-to-equity ratio of 32.88, a quick ratio of 0.93 and a current ratio of 1.78. Associated British Foods has a 1 year low of GBX 1,818.87 and a 1 year high of GBX 2,359.

Associated British Foods (LON:ABF) last announced its earnings results on Tuesday, November 4th. The company reported GBX 174.90 EPS for the quarter. Associated British Foods had a return on equity of 13.07% and a net margin of 7.25%. As a group, equities research analysts anticipate that Associated British Foods will post 188.0990415 earnings per share for the current fiscal year.

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.