Market's view on AB Foods
Published on April 2024
- Goldman Sachs has raised the AB Foods price target to 2,920 pence which has been marked as ‘neutral’.
- Some stock watchers believe that the company is still undervalued despite competition from Shein, with non-retail divisions being appreciated.
- Barclays has raised the Associated British Foods price target to 2,700 pence - ‘equal weight’.
- A few stock watchers have recently begun investing in the company due to solid fundamentals and balance sheet.
- Primark owner Associated British Foods is expected to release interim results that predict a year of ‘meaningful progress in both profitability and cash generation’ according to broker ShoreCap.
- RBC has raised the AB Foods price target to 2,700 pence - ‘outperform’.
- Hope for UK retailers after an Easter pickup, signalling potential recovery.
- Speculation about Shein potentially considering buying Primark from ABF has been raised.
- A steady rise in the share price has been observed, leading to speculation of it reaching 30 pounds.
- Primark has started adding stickers to bags to prevent shoplifting.
- The company has announced a 9.1% pay rise for UK store workers.
- Retailers have suffered due to the wettest February on record.
- Fast fashion retailer Shein is considering switching its proposed $90.0bn initial public offering from New York to London due to regulatory hurdles.
- Retail sales have seen the fastest growth since 2021, indicating that the economy may soon be moving out of recession.
- For some stock watchers, ABF has become their largest portfolio holding by value.