Following the release of its H1’21 numbers and subsequent conversation with management, we retain our optimism for OKOMU, raising our FY’21 earnings forecast to N17.6 billion (vs N14.6 billion previously). Our PAT adjustment reflects higher than expected CPO prices and output. On the whole, the adjustments resulted in an increase in our 12-month target price to N131.55 (N111.25 previously) and a BUY rating on the counter.
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CardinalStone is a full service investment banking firm with a vision to build a world class investment banking firm of African origin; operating out of Lagos, Nigeria. The firm was incorporated in April 2008 and began operations in June 2008. CardinalStone is duly registered with the Securities & Exchange Commission in Nigeria to carry on business as an Issuing House, Fund Manager and Broker/Dealer
The Firm's activities are carried out across five business units: Asset Management, Investment Banking, Private Equity, Securities Trading and the Business Support Group.
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