Friday 29 Mar 2024
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KUALA LUMPUR (Dec 12): Affin Hwang Capital Research has maintained its “Buy” rating on Top Glove Corporation Bhd at RM6.55 with a higher target price of RM8 (from RM6,64) on a 22x FY19E PER.

In a note today, the research house said post its recent meeting with Top Glove’s management, it remains optimistic on the company’s outlook.

“Earnings growth for the company is likely to outpace its capacity growth, as strong demand for gloves has provided the company with better flexibility in pricing its products to achieve better margins, in our view.

“The proposed acquisition of Aspion, when completed, could provide further upside to our forecasts,” it said.

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