AB Foods stock slips after Kepler cuts target

Published on 09/17/2026 at 16:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

AB Foods stock closed at GBP 18.41 on September 16, 2026, after Kepler Cheuvreux cut its target to 1,900 pence. Primark now sees fourth-quarter like-for-like sales down 3 percent.

Lebensmittelfabrik mit Getreidefeldern, Symbolbild Associated British Foods plc GB0006731235 — Associated British Foods plc GB0006731235 zeigt fotorealistisch eine moderne Lebensmittelfabrik mit Verpackungslinie und Getreidefeldern, Illustration mit AI erstellt.

AB Foods stock (ISIN GB0006731235) closed at GBP 18.41 on September 16, 2026, down 0.11 percent, after Kepler Cheuvreux cut its rating to Hold and lowered its price target to 1,900 pence from 2,100 pence.

Kepler cuts the target

According to ad hoc news on September 16, 2026, Kepler Cheuvreux moved AB Foods from Buy to Hold and cut the target to 1,900 pence from 2,100 pence. That is a 9.5 percent reduction, and the new target still sits 6.3 percent above the September 16 close of GBP 18.41.

In the same report, AB Foods said Primark like-for-like sales in the fourth quarter to September 12, 2026 are expected to fall 3 percent, while total Primark sales for the full fiscal year are still projected to rise by around 2 percent. The company also said adjusted operating profit for fiscal 2025-26 should be broadly in line with market expectations and adjusted earnings per share should come in slightly above consensus.

Primark and sugar

The update also flagged regional divergence inside Primark, with United Kingdom and Ireland sales expected to rise 0.4 percent and continental Europe forecast to decline 4.3 percent. Kepler, as summarized by ad hoc news, also lowered its fiscal 2026 sales forecast to GBP 19.38 billion and its adjusted EBIT forecast to GBP 1.50 billion, after trimming sales by 1.1 percent and EBIT by 2.5 percent.

For investors, the sugar division remains a second pressure point. The company said the business is trending toward the upper end of a GBP 25 million to GBP 60 million adjusted operating loss range in fiscal 2026, while Kepler projects an adjusted operating loss of GBP 70 million to GBP 170 million for fiscal 2027.

Stock stays below the target

AB Foods stock changed hands at GBP 18.41 on September 16, 2026, with a decline of 0.11 percent and an intraday quote of GBP 18.39 at 17:35 local time. The share price remains below the new 1,900 pence target and within the narrow band reported for the London session.