Associated British Foods plc (ASBFY) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Associated British Foods plc (NASDAQ:ASBFY) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning. They currently have $40.00 target price on the stock.

According to Zacks, “Associated British Foods is a diversified international food, ingredients and retail group. The group is one of Europe’s largest food companies with a wide range of successful brands and products in the food sector, and an increasingly strong presence in advanced research and technology. “

Several other research firms also recently commented on ASBFY. Jefferies Group LLC raised shares of Associated British Foods plc from a hold rating to a buy rating in a report on Thursday, April 13th. Numis Securities Ltd reaffirmed a hold rating on shares of Associated British Foods plc in a report on Friday, March 17th. Goldman Sachs Group Inc raised shares of Associated British Foods plc from a neutral rating to a buy rating in a report on Monday, March 20th. HSBC Holdings plc reaffirmed a buy rating on shares of Associated British Foods plc in a report on Sunday, January 15th. Finally, BNP Paribas downgraded shares of Associated British Foods plc from a neutral rating to an underperform rating in a report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Associated British Foods plc has a consensus rating of Buy and a consensus price target of $40.00.

Associated British Foods plc (NASDAQ:ASBFY) traded up 1.57% during midday trading on Tuesday, reaching $36.95. 658 shares of the company’s stock were exchanged. The stock has a market cap of $29.19 billion and a PE ratio of 21.26. The firm has a 50 day moving average of $32.89 and a 200-day moving average of $32.36. Associated British Foods plc has a 12 month low of $29.84 and a 12 month high of $46.66.

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About Associated British Foods plc

Associated British Foods plc is an international food, ingredients and retail company. The Company’s segments include grocery, sugar, agriculture, ingredients and retail. Its geographical segments include the United Kingdom, Europe and Africa, the Americas and Asia Pacific. The grocery segment manufactures grocery products, including hot beverages, sugar and sweeteners, vegetable oils, bread and baked goods, cereals, ethnic foods, herbs and spices, and meat products, which are sold to retail, wholesale and foodservice businesses.

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