Inghams Loses Bull as Consumer Confidence Ebbs -- Market Talk

Dow Jones
05/01

2329 GMT [Dow Jones]--Poultry producer Inghams loses a bull in Bell Potter as headwinds strengthen. Analyst Jonathan Snape points to commentary from other Australian companies, which suggests foodservice and out-of-home channels weakened in March-April due to a more skittish consumer. This coincides with intensifying cost pressures in plastics, distribution and feed. Bell Potter says large retailers are freezing prices on products such as chicken. "The risk is rising that these pressures are pushing the recovery in the Inghams base business to the right," Bell Potter says. "While valuation is not particularly stretched, periods of disruption in foodservice/wholesale markets have traditionally been difficult to manage." It downgrades Inghams to hold, from buy, and cuts its price target 27% to A$2.00/share. Inghams ended Thursday at A$1.885. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

April 30, 2026 19:32 ET (23:32 GMT)

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