Top Glove Target Price Affin Hwang
Key risks to our call include.
Top glove target price affin hwang. Affin hwang outperform rm 46 40 20 7 2020. Affin hwang capital research has maintained its buy rating on top glove corp bhd at rm24 82 with a higher target price of rm46 40 and said it believe that the recent resurgence of covid 19 will drive average selling prices asps higher in coming months as the current shortage looks likely to worsen. Target price rm9 20.
Kuala lumpur july 21. I am reproducing the affin hwang research note. However if the issue prolongs topg will have to re ship it goods to other countries though it could benefit from higher spot prices.
Top glove proposed 2 for 1 bonus issue. Ng chi hoong an analyst at malaysian investment bank affin hwang raised his target price for top glove to 22 40 ringgit 5 24 per share to factor in the stronger demand outlook while. Top glove reported a strong set of results with fy20 patami at rm1 87bn 412 yoy above both our and consensus expectations as it constituted 133 and 122 of the respective forecasts although still under the retention list by the cbp topg was able to deliver a 4 9 qoq increase in sales volume due to strong demand.
Rm22 40 buy can top glove break rm100. And 3 worsening labor issues. Cimb research maintain buy on topglov.
Rubber glove exports up 50 in first seven months. Top glove minimal. The research house has named top glove corp bhd target price up 90 sen to rm5 20 and.
Top glove buyback 1 392million shares at rm7 11 rm7 21. Top glove corporation berhad summoned with detention order. 1 intensifying competition from other countries.
Affin hwang outperform rm 46 40 20 7 2020. Kuala lumpur dec 6. Top glove can top glove break rm100.
Credit suisse outperform rm 37 00 15 7 2020. Affin hwang capital has upgraded the gloves sector to outperform on optimism its prospects for 2020 will improve as demand from the us is expected to improve while labour issues and higher production costs that emerged in the third quarter of 2019 3q19 are gradually resolved. Aiming for top results.
Affin hwang research 21 jul 2020. 8 research houses updated their target prices for top glove as below. Bull case scenario rm110 20.
Affin hwang capital noted in a report recently top glove share price could hit as high as rm 110 on value in a bull case scenario if selling prices increase by 10 month to month each month in financial year 2021. Affin hwang raised topglov target price to rm46 40. We hosted a conference call with management recently and management.
