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NewsMaybank IB Research maintains Buy on Top Glove, ups target price to RM7.10
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Maybank IB Research maintains Buy on Top Glove, ups target price to RM7.10
by Cals Wed 12 Jun 2013, 08:37
Maybank IB Research maintains Buy on Top Glove, ups target price to RM7.10
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 12 June 2013 08:26
A + / A - / Reset
KUALA LUMPUR (June 12): Maybank IB Research has maintained its Buy rating on Top Glove Corporation Bhd at RM6.45 with a higher target price (TP) of RM7.10 (from RM6.10) and said the company’s upcoming 3QFY8/13 core earnings was likely to be better quarter-on-quarter and meet its expectation.
In a note Wednesday, the research house said though there was some average selling price pressure for the nitrile glove currently; the falling rubber prices would mitigate the squeeze in group margins.
“We like Top Glove for its fast response to the nitrile demand and plant automation requirements.
“Maintain Buy with a higher TP of RM7.10 (+16%), pegged to its latest 5-year historical mean of 18x on forward earnings,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Wednesday, 12 June 2013 08:26
A + / A - / Reset
KUALA LUMPUR (June 12): Maybank IB Research has maintained its Buy rating on Top Glove Corporation Bhd at RM6.45 with a higher target price (TP) of RM7.10 (from RM6.10) and said the company’s upcoming 3QFY8/13 core earnings was likely to be better quarter-on-quarter and meet its expectation.
In a note Wednesday, the research house said though there was some average selling price pressure for the nitrile glove currently; the falling rubber prices would mitigate the squeeze in group margins.
“We like Top Glove for its fast response to the nitrile demand and plant automation requirements.
“Maintain Buy with a higher TP of RM7.10 (+16%), pegged to its latest 5-year historical mean of 18x on forward earnings,” it said.
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