Associated British Foods weakens after holding outlook for flat EPS

A general view of varied products including Kingsmill bread Allinson bread Primark Ovaltine Ryvita Pataks Twinings and Jordan cereals from Associated British Food

A general view of varied products including Kingsmill bread Allinson bread Primark Ovaltine Ryvita Pataks Twinings and Jordan cereals from Associated British Food

Liberum Capital restated a "buy" rating on shares of Associated British Foods in a research report on Tuesday, July 2nd. Therefore 100% are positive. The stock has an average rating of "Buy" and a consensus target price of GBX 2,903.50 ($37.94).

Associated British Foods (ABF.L) said early on Monday that its full-year adjusted earnings per share were expected to be in line with last year, as "strong" profit performances at its grocery and budget clothing business were set to be offset by an anticipated decline in the sugar unit. "Associated British Foods will now have to either stomach lower profit margins by keeping prices the same so as to not risk alienating its customer base, or see if its brand is strong enough to push through higher selling prices without customers going elsewhere.' But John Bason, Associated British Foods's finance director, said customers will 'have the same old dependable pricing from Primark that they've ever had". Kepler Cheuvreux maintained it with "Buy" rating and GBX 2900 target in Thursday, April 25 report. Credit Suisse Group reaffirmed an "outperform" rating on shares of Associated British Foods in a report on Wednesday, July 3rd. Jefferies has "Buy" rating and GBX 2800 target. They now have a GBX 3,150 ($41.16) target price on the stock. About 411,630 shares traded. It has by 0.00% the S&P500.

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. The company has market cap of 17.51 billion GBP. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. It has a 19.97 P/E ratio.

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Elsewhere, the operating profit from its sugar division is expected to be in line with past year, while the grocery arm is expected to deliver operating profit "well ahead" compared to the previous 12 months.

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