July 13, 2026 10:31 AM GMT Associated British Foods PLC | Europe M Update Risk Reward Update What's Changed Updated Components EPS Risk Reward for Associated British Foods PLC (ABF.L) has been updated Reason for change We update our model following the Q3 sales release and guidance downgrade (see First Take: Sugar Driving Another Earnings Cut). We lower our FY26 EPS by ~1%, broadly in line with consensus, reflecting Primark LFL sales of -2.4% (vs. -2.7% previously), largely offset by weaker Sugar profitabil ...