Associated British Foods (ADR) (OTC:ASBFY) Rating Upped

Associated British Foods (ADR) (OTC:ASBFY) was boosted by Berenberg Bank from Hold rating to Buy rating in a note made public on 28 June.

The firm’s rating upgrade is well-received by equity trades, as OTC:ASBFY is at the moment trading 8.88% higher at $34.46 as of 06:45 New York time. Associated British Foods (ADR) shares have dropped -35.47% in the last 200 days, while the S&P 500 Index has surged 2.47% during the same time.

OTC:ASBFY Price Chart & Trend

The stock price of Associated British Foods (ADR) nosedived 35.47% over the last 200 days, and is in strong down trend. In the last 50 and 100 days, Associated British Foods (ADR) is down 33.79% and down 31.57%, respectively. Our stocks momentum model is shown on the price chart below.

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Associated British Foods (ADR) (OTC:ASBFY) Profile

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.

Associated British Foods (ADR) (OTC:ASBFY) traded up 8.88% on 28 June, hitting $34.46. A total of 18,101 shares of the company’s stock traded hands. This is up from average of 11,806 shares. Associated British Foods (ADR) has a 52 week low of $31.11 and a 52 week high of $54.24. The company has a market cap of $25.06 billion and a P/E ratio of 0.

Get the latest Associated British Foods (ADR) (OTC:ASBFY) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Will Berenberg Bank Upgrade to Buy from Hold Be a Tailwind For Associated British Foods (ADR) (OTC:ASBFY) Stock Today? appeared first on Octafinance.