Thursday 28 Mar 2024
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KUALA LUMPUR (July 3): AffinHwang Capital Research has maintained its “Hold” rating on Hartalega Holdings Bhd at RM8.84 with a higher target price of RM8.72 (from RM8.56) and said that in view of intensifying pricing competition within the nitrile segment and Hartalega’s growing NR product mix, the group’s margins were likely to continue their downward trend.

“Nonetheless, the group’s aggressive expansion plans should fuel earnings growth.

“In addition to its OEM business, Hartalega plans to focus on OBM gloves in emerging markets.

“Maintain Hold and raise target price to RM8.72,” it said.

 

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