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HSBC covered Associated British Foods PLC (LON:ABF), dropping its stock price target to 3,150.00GBX earlier today

Boasting a price of 2,717.00GBX, Associated British Foods PLC (LON:ABF) traded 0.55% lower on the day. The last stock close is down 10.40% relative to the two hundred day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. Associated British Foods PLC has recorded a 50-day moving average of 2,941.08GBX and 200-day average of 3,025.83GBX. Trading volume was was up over the average, with 1,299,380 shares of ABF changing hands over the typical 1,072,730 shares.

In an issued report on 9/16/2016 HSBC reduced the target price of Associated British Foods PLC (LON:ABF) from 3,300GBX to 3,150GBX reporting a possible upsideof 0.16%.

On 9/15/2016, Liberum Capital reported about Associated British Foods PLC(LON:ABF) dropped the target price from 3,600.00GBX to 3,500.00GBX that suggested an upside of 0.28%.

Performance Graphic:

Associated British Foods PLC (LON:ABF)

A total of 21 firms have issued a ratings update on the stock. Two firms rate the company a strong buy, six analysts rate the company a buy, 12 firms rate the company a hold, two brokerages rate the company to underperform, and lastly one firmrate the stock as sell with a one year target price of 3,055.76GBX

With a market capitalization of 0.0 GBX, Associated British Foods PLC has a PE of 29 with a one-year low of 1,910.00GBX and a one-year high of 3,606.00GBX.

Brief Synopsis About Associated British Foods PLC (LON:ABF)

Associated British Foods plc is a diversified international food, ingredients and retail group with sales. The Company operates in 47 countries across Europe, southern Africa, the Americas, Asia and Australia. The Company operates in five segments, including Sugar, Agriculture, Retail, Grocery and Ingredients. Grocery segment manufactures grocery products. Sugar segment grows and process of sugar beet and sugar cane for sale to industrial users and to Silver Spoon. Agriculture segment manufactures animal feeds and the provision of other products for the agriculture sector. Ingredients segment manufactures bakers’ yeast, bakery ingredients, enzymes, lipids, and yeast extracts and cereal specialities. Retail segment buys and merchandise value clothing and accessories through the Primark and Penneys retail chains.

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