Deutsche Bank Cuts Associated British Foods Targets After Weak Guidance
Deutsche Bank lowered its target price on Associated British Foods to 1,790p from 1,850p while keeping a hold rating, citing reduced 2027 earnings forecasts and ongoing pressure across most divisions. Panmure Liberum also cut its target to 1,800p from 1,850p and retained hold, noting deteriorating Primark and Sugar performance but suggesting potential improvement ahead of the December 2027 demerger.