We retain our optimism for OKOMU, raising our FY’22 earnings forecast to N20.1 billion (vs N17.1 billion previously). Our PAT adjustment primarily reflects higher than expected CPO prices and output due to supply constraints across the global vegetable oil market. These adjustments resulted in an increase in our 12-month target price (TP) to N183.22 (N154.3 previously) and a BUY rating on the counter.