Inghams (ING) view
Hi Team,
What are your thoughts on ING? A keeper? I see it could be waiting if a supermarket renews contract. Your comment much appreciated.
B & P Hopley
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Answer
Hi Guys,
Poultry business Ingham’s (ING) smashed analysts expectations in June but as has been a feature of the current market the stocks struggled after making fresh multi-year highs. We like the outlook for the chicken business, a defensive earnings base underpinned by a forecasted fully franked yield in excess of 4% is attractive. The No 1 rated analyst covering the stock (from Goldman’s) has a $4.45 price target. This is the sort of stock that would fit nicely into the MM Income Portfolio.
