Bursa Malaysia Stock Watch
Adventa's rating maintained at 'buy'
kltrader
Publish date: Tue, 15 Jun 2010, 06:37 PM
kltrader
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OSK has maintained its 'buy' recommendation on Adventa, setting the target price at RM5.37.
Adventa is expected to announce its second quarter 2010 results today, which we think may come in below our and consensus expectations, said OSK.
OSK cited higher latex price, smaller new orders and the weakening of the USD against MYR during the quarter.
'Going forward, we believe 3QFY10 would be a better quarter for Adventa as the latex price increase is easing and the USD-MYR rate has stabilised, and it experienced a slight increase in production capacity from its new nitrile glove lines,' OSK added.
Adventa is expected to announce its second quarter 2010 results today, which we think may come in below our and consensus expectations, said OSK.
OSK cited higher latex price, smaller new orders and the weakening of the USD against MYR during the quarter.
'Going forward, we believe 3QFY10 would be a better quarter for Adventa as the latex price increase is easing and the USD-MYR rate has stabilised, and it experienced a slight increase in production capacity from its new nitrile glove lines,' OSK added.
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