Associated British Foods shares have recently experienced an upward movement with a return of higher volumes and volatility. This technical chart pattern suggests a continuation of the upward movement. Investors have an opportunity to buy the stock and target the GBp 2575.
The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
The company has solid fundamentals for a short-term investment strategy.
The company is in a robust financial situation considering its net cash and margin position.
There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.
Historically, the company has been releasing figures that are above expectations.
The company has attractive valuation levels with a low EV/sales ratio compared with its peers.
Analysts covering this company mostly recommend stock overweighting or purchase.
Stock prices approach a strong long-term resistance in weekly data at GBp 2571.
The stock is currently in contact with a medium-term resistance that must be gotten rid of so as to resume the upward trend.
Analysts covering the stock have recently lowered their earnings forecast.
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