AmInvest Research maintained its Buy call, forecasts and fair value of RM1.17 a share based on price-to-earnings ratio (PER) of 18 times over FY20F EPS.
KUALA LUMPUR: AmInvestment Research anticipates a better second half for Leong Hup International on the back of improved market prices for day-old-chicks (DOC) and broiler chickens which have increased to RM2.10 per DOC and RM5.40 per kg respectively on Aug 16.
“We remain convinced that the long-term outlook for Leong Hup is still positive given the stable demand of chicken while its source of income outside Malaysia such as Singapore, Vietnam, Indonesia and the Philippines will provides growth potential for the group, ” it said on Tuesday.
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