Oppenheimer analyst Kristen Owen initiated protection on Ingredion Inc INGR with an Outperform score and a worth goal of $120.
The analyst believes Ingredion’s investments in sugar discount, plant-based protein, and specialty texturizers bode properly with client’s deal with well being and wellness and aware consuming. This underpins the corporate’s migration to specialty from commodity, thereby driving ROIC.
The analyst sees income diversification, enhancing pricing/margin management, aggressive differentiation, and better buyer intimacy as aiding the corporate’s progress prospects.
Owen expects the corporate’s quantity restoration to lag modestly however sees near-term affordability alignment facilitating margin growth.
The analyst estimates income and adjusted EPS of $8.4 billion and $8.91 for FY23, $8.7 billion and $9.60 for FY24, and $8.9 billion and $10.24 for FY25, respectively.
Additionally Learn: Ingredion Q2: Earnings Miss, Softer Quantity Demand, Dividend Increase & Extra
Worth Motion: INGR shares are buying and selling greater by 0.89% at $98.44 on the final verify Friday.
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