Highlights

Top Glove - Thinking for Tomorrow

Date: 03/08/2018

Source  :  UOBKayHian
Stock  :  TOPGLOV       Price Target  :  7.80      |      Price Call  :  SELL
        Last Price  :  4.58      |      Upside/Downside  :  +3.22 (70.31%)
 


  • Like many other manufacturers, Top Glove is embracing Industry 4.0 applications. With rising cost pressures, these initiatives will be rewarding over the long haul. 

  • Separately, the dispute with Adventa Capital has escalated, but if given a choice, management prefers an amicable solution. 

  • Nevertheless, Top Glove remains as the second priciest proxy to the sector. Also, the stock is trading at +2SD to its five-year forward PE. 

  • Maintain SELL and target price of RM7.80.

What’s New

Management update.

We met up with management recently and this note highlights the key takeaways, which also touched on some of Top Glove’s Industry 4.0 initiatives.

Source: UOB Kay Hian Research - 02 Aug 2018

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Labels: TOPGLOV

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