Associated British Foods Announces Share Repurchase and Cancellation

An announcement from Associated British Foods ( (GB:ABF) ) is now available.

Associated British Foods plc announced the repurchase and cancellation of 105,084 of its ordinary shares as part of its ongoing share repurchase program. The shares were bought from UBS AG London Branch at an average price of GBp 2091.15 per share, with the highest price being GBp 2112 and the lowest GBp 2082. This transaction, conducted on the London Stock Exchange, is part of the company’s strategy to manage its capital structure and return value to shareholders.

The most recent analyst rating on (GB:ABF) stock is a Sell with a £18.30 price target. To see the full list of analyst forecasts on Associated British Foods stock, see the GB:ABF Stock Forecast page.

Spark’s Take on GB:ABF Stock

According to Spark, TipRanks’ AI Analyst, GB:ABF is a Outperform.

Associated British Foods scores well due to its strong financial performance and attractive valuation. While technical indicators show positive momentum, they also suggest potential overbought conditions. The earnings call highlighted both strategic initiatives and challenges, resulting in a balanced outlook.

To see Spark’s full report on GB:ABF stock, click here.

More about Associated British Foods

Associated British Foods plc is a diversified international food, ingredients, and retail group. The company’s operations span across various sectors including sugar, agriculture, grocery, and ingredients, with a significant presence in the retail sector through its Primark stores. The company focuses on delivering quality products and services across its diverse portfolio, catering to a wide range of markets globally.

Average Trading Volume: 862,556

Technical Sentiment Signal: Buy

Current Market Cap: £15.12B

Find detailed analytics on ABF stock on TipRanks’ Stock Analysis page.