Positive outlook for KLK

MIDF Research also maintained its FY22-FY23 revenue and earnings estimates of at this juncture, under review for imminent upgrade pending revision to its target average CPO prices for the current and forward years.

PETALING JAYA: Kuala Lumpur Kepong Bhd’s (KLK) outlook is expected to remain sturdy post-IJM Plantations Bhd acquisition, with its long-term strategy to expand its upstream business looking fruitful by the expected higher average selling price of crude palm oil (CPO).

MIDF Research has recommended a “buy” call on the stock with an unchanged target price (TP) of RM30.18.