ALGO Update: Stay Long Ingham’s Group

Our ALGO engine triggered a buy signal for Ingham’s Group on December 18th at $3.42.

Now that Red Lea Chicken has been placed into voluntary administration, analysts estimate that ING’s 40% share of the domestic chicken market will grow by 1-2% and add 1.2% to EPS.

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Based on those estimates, we see the share price rising into the $4.00 area over the medium-term.

Ingham’s Group

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