Inghams (ASX:ING) recently shared their 1H24 guidance, surpassing expectations significantly. The positive trajectory, initiated by a robust 2H23 recovery, continues to drive operational performance in the first half of FY24.

Continuous Momentum from 2H23 Recovery

Inghams' strong recovery in the latter half of 2023 has seamlessly transitioned into a positive start for FY24, forming the basis for their impressive 1H24 guidance. We have made substantial upgrades made to our forecasts in response to Inghams' remarkable performance, reflecting the company's resilience and growth potential.

Undemanding Valuation and Investment Outlook

Evaluate Inghams' undemanding valuation, trading at an FY24F PE of 10.8x, coupled with an enticing fully franked dividend yield of 5.6%. With this, we maintain an Add rating, shedding light on the investment outlook for prospective stakeholders.

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

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Inghams' exceeding 1H24 expectations, sustained recovery momentum, and a comprehensive view of its undemanding valuation, offering investors a well-rounded perspective on the poultry producer's current standing.
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