Zacks Investment Research Upgrades ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) to Buy

ASSD BRIT FOODS/ADR (OTCMKTS:ASBFY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $35.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.46% from the stock’s previous close.

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. “

Separately, Goldman Sachs Group upgraded shares of ASSD BRIT FOODS/ADR from a “neutral” rating to a “buy” rating in a research note on Wednesday.

Shares of OTCMKTS ASBFY traded up $0.01 during midday trading on Friday, reaching $31.40. 10,690 shares of the stock were exchanged, compared to its average volume of 46,122. The stock has a market capitalization of $24.32 billion, a P/E ratio of 18.47, a PEG ratio of 1.77 and a beta of 0.95. The company has a 50 day simple moving average of $28.43 and a 200 day simple moving average of $30.12. ASSD BRIT FOODS/ADR has a twelve month low of $25.49 and a twelve month high of $34.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.95 and a current ratio of 1.73.

About ASSD BRIT FOODS/ADR

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Sugar, Agriculture, Ingredients, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.

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