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ING - UBS rates the stock as Neutral
PUBLISHED
2020-05-05
Content
Inghams has observed more uncertainty around the final weeks of FY20 in terms of changing volume and channel mix.
UBS assesses there are cost inefficiencies resulting from social distancing and out-of-home volumes are weak.
While the update was incrementally negative, with the dividend intact and valuation undemanding, the broker retains a Neutral rating and $3.10 target.
Sector: Food, Beverage & Tobacco.
Target price is $3.10.Current Price is $3.41. Difference: ($0.31) - (brackets indicate current price is over target). If ING meets the UBS target it will return approximately -10% (excluding dividends, fees and charges - negative figures indicate an expected loss).