Highlights

CLSA: GLOVE supply shortage forecasted throughout the next 3 years. TOPGLOV (RM28) HARTA (RM20) KOSSAN (RM13)

Date: 07/07/2020

Source  :  CLSA
Stock  :  TOPGLOV       Price Target  :  28.00      |      Price Call  :  BUY
        Last Price  :  6.63      |      Upside/Downside  :  +21.37 (322.32%)
 
Source  :  CLSA
Stock  :  HARTA       Price Target  :  20.00      |      Price Call  :  BUY
        Last Price  :  14.50      |      Upside/Downside  :  +5.50 (37.93%)
 
Source  :  CLSA
Stock  :  KOSSAN       Price Target  :  13.00      |      Price Call  :  BUY
        Last Price  :  6.06      |      Upside/Downside  :  +6.94 (114.52%)
 


 

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I am reproducing the CLSA report to my blog.

We see ample upside for glove manufacturers despite the run-up, with our target prices derived using modest target P/E implying long-term growth of 5% (based on GGM), against normalised industry growth of 8-10% p.a. Maintain sector Overweight with Top Glove our top pick and Kossan Rubber upgraded from Outperform to BUY.
 

CLSA lift TPs across the board: from RM22.00 to RM28.00 for Top Glove; from RM16.30 to RM20.00 for Hartalega; and from RM9.80 to RM13.00 for Kossan.





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Labels: TOPGLOV, HARTA, KOSSAN

Related Stocks

Chart Stock Name Last Change Volume 
TOPGLOV 6.63 -0.15 (2.21%) 17,458,500 
HARTA 14.50 -0.16 (1.09%) 694,100 
KOSSAN 6.06 -0.14 (2.26%) 1,509,500 

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