Goldman Sachs Dumps on Associated British Foods with Sell Rating

Goldman Sachs has downgraded Associated British Foods (ABF) to a Sell rating. Analyst Richard Edwards assigned this rating in a report, along with a price target of £1,600.00.

Edwards' track record includes an average return of -4.3% and a 46.29% success rate, according to TipRanks. This is not the first negative assessment of ABF from Goldman Sachs, it joins Citi in recommending a Sell rating.

However, Barclays contradicts this view with its Hold rating on ABF. The latest quarterly earnings report for ABF showed revenue of £9.47 billion and a net profit of £445 million, compared to last year's revenue of £9.51 billion and net profit of £520 million.