Affin Hwang lifts forecasts on QL Resources, target price raised

In the ILF segment, Affin Hwang expects brighter prospects on the back of higher egg production, supported by favourable egg prices.

KUALA LUMPUR: Affin Hwang Capital research has lifted its FY20-22E earnings forecasts for QL Resources Bhd by 2%-4% to take into account higher revenue per store for its convenience store operations and higher crude palm oil (CPO) average selling price.

This comes in addition to the steady growth seen in the group’s key businesses of marine products manufacturing (MPM) and integrated livestock farming (ILF).