Kerry Group shares a good buy

KERRY GROUP shares are trading at a 50% discount to peer companies around the world and offer a significant buying opportunity, according to NCB stockbrokers.

In a review of Irish equities, NCB focused on Irish food stocks and identified strong growth prospects for Kerry Group, Fyffes and IAWS while perceiving a number of concerns at Glanbia.

Analysts Paul Meade and Jane Riordan note Kerry Group ranks as one of the top ten global ingredient manufacturers, serving the top 50 global names in the food industry: “It has a very diversified customer base in a defensive sector delivering organic growth levels of 4%-5% (in line with the top food manufacturers) and is well positioned to deliver eps growth of 10%+ as lifestyle convenience foods drive growth.