KUALA LUMPUR (June 18): Leong Hup International Bhd rose 0.95% in active trade at mid-morning today, after RHB Investment Bank Bhd Research initiated coverage on the stock at RM1.05 with a "buy" rating and target price of RM1.53, for 46% upside plus 2% yield.

At 11.14am, Leong Hup was up 1 sen to RM1.06 with 5.08 million shares traded.

In a note today, the research house said Leong Hup is a comprehensive and unique value proposition, given the integrated and diversified business model.

"We view ASEAN as a strategic market due to favourable macroeconomic factors, while the poultry industry offers scalable growth, thanks to robust consumption.

"Hence, LHI's (Leong Hup's) concentrated focus in the said region and industry should provide long-term growth sustainability.

"Earnings prospects are compelling, driven by expansion initiatives and higher operating efficiency," it said.