Associated British Foods plc -16.1% potential downside indicated by JP Morgan Cazenove

Associated British Foods plc with ticker (LON:ABF) now has a potential downside of -16.1% according to JP Morgan Cazenove.



JP Morgan Cazenove set a target price of 2,250 GBX for the company, which when compared to the Associated British Foods plc share price of 2,683 GBX at opening today (09/05/2024) indicates a potential downside of -16.1%. Trading has ranged between 1,805 (52 week low) and 2,765 (52 week high) with an average of 819,331 shares exchanging hands daily. The market capitalisation at the time of writing is £20,306,909,393.

Associated British Foods PLC is a diversified company, with a range of food and ingredients businesses. The Company’s segments include Grocery, Ingredients, Agriculture, Sugar, and Retail. Grocery segment is engaged in the manufacture of grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods and meat products, which are sold to retail, wholesale and foodservice businesses. Ingredients segment is engaged in the manufacture of baker’s yeast, bakery ingredients, enzymes, lipids, yeast extracts and cereal specialties. Agriculture segment is engaged in the manufacture of animal feeds and the provision of other products and services for the agriculture sector. Sugar segment is engaged in growing and processing of sugar beet and sugar cane for sale to industrial users. Retail segment is engaged in buying and merchandising value clothing and accessories through the Primark and Penney’s retail chains.