Financial analysts at E&P Capital anticipate a long-drawn-out industrial conflict at Inghams, Australia’s largest poultry producer, causing disruption in its supply chain.
Going on strike for 24 hours on Friday, Inghams employees' pay discussions that kicked off at the start of the year have not reached an agreement, announced the United Workers Union.
The brokerage firm anticipates some level of compromise will be reached.
Shares of Inghams are experiencing an upturn of as much as 2.1%, marking the largest earnings in 4 weeks.
According to data from LSEG, 7 out of 10 analysts rate the stock as a ‘buy’ or higher, with 2 holding and one selling, with a median PT sitting at A$3.67.
From the start of this year until the last close, the stock has risen by 17.8%.
Inghams is the largest poultry producer in Australia.