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.
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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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