MICC has released new equity research on Tumen Shuvuut – Түмэн Шувуут JSC (TUM). We initiate coverage on one of Mongolia's largest integrated poultry producers, spanning breeding, feed production, egg production, farming, processing, and distribution.

We issue a HOLD recommendation with a 12-month target price of MNT 356.29, representing a downside of 4.2% from the closing price of MNT 372.00 as of June 25, 2026. This valuation is grounded in a blended EV/EBITDA and Discounted Cash Flow (DCF) methodology.

Full equity research available on Capital IQ (S&P Global Market Intelligence). For more info, contact MICC: brokerage@micc.mn | (+976) 7011-2023.