Top Long-Term ASX Pick, One Exceptional Stock

When seeking stable income from investments, ASX dividend shares are a preferred option for many investors. Analysts have recently highlighted three ASX-listed companies currently in the buy zone due to their attractive dividend prospects and growth potential on the ASX DRIP (Dividend Reinvestment Plan). Let's explore what makes these stocks compelling options for income-focused investors.

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Endeavour Group Ltd (ASX: EDV)

Endeavour Group stands out in the alcohol retail sector as the leading player, owning iconic brands like BWS and Dan Murphy's. According to Goldman Sachs, this market leadership position and the defensive nature of the alcohol retail market make Endeavour Group an appealing investment.


Goldman Sachs forecasts fully franked dividends of around 22 cents per share for both FY 2024 and FY 2025. With the current Endeavour share price at $5.08, this translates to dividend yields of 4.3% annually. Moreover, the broker maintains a positive outlook on Endeavour's growth prospects, assigning it a buy rating with a target price of $6.20.

Inghams Group Ltd (ASX: ING)

Inghams Group, Australia's foremost poultry producer and supplier, has caught the eye of analysts at Morgans. They view Inghams as undervalued given its strong market position, favorable consumer trends, and current valuation.


Morgans anticipates fully franked dividends of 22 cents per share in FY 2024, increasing to 23 cents per share in FY 2025. At the current Inghams share price of $3.55, this translates to attractive dividend yields of 6.2% and 6.5% for the respective years. With an add rating and a price target of $4.40, Morgans suggests potential upside for investors.

Suncorp Group Ltd (ASX: SUN)

Suncorp Group, a prominent player in Australia's insurance sector, is highlighted by Goldman Sachs for its robust position to capitalize on favorable trends in general insurance.


Goldman Sachs projects fully franked dividends of 78 cents per share for FY 2024, rising to 83 cents per share in FY 2025. Based on the current Suncorp share price of $16.51, this results in dividend yields of 4.7% and 5% for the respective years. The broker maintains a buy rating on Suncorp shares with a target price of $17.54, indicating potential appreciation.


For income-focused investors looking to bolster their portfolios with reliable dividend-paying stocks, Endeavour Group, Inghams Group, and Suncorp Group present compelling opportunities. These companies not only offer attractive dividend yields but also benefit from strong market positions and favorable analyst outlooks. As always, investors should consider their own financial goals and risk tolerance before making investment decisions.

Location: Australia

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