Thursday 28 Mar 2024
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KUALA LUMPUR (Dec 14): AffinHwang Capital Research has upgraded Top Glove Corporation Bhd to "buy" at RM11.30 with a higher target price of RM14.90 (from RM8.95) and said given the favourable operating environment, it expects Top Glove to set another new earnings record for 1QFY16.

In a note today, the research house said with Top Glove regaining status as the market leader in terms of profitability, it believes that Top Glove deserves to trade at a higher PE, in line with Hartalega (23x).

"Hence, upgrade to 'buy' with higher target price of RM14.90," it said.

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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