Bursa Malaysia Stock Watch
TOPGLOV - Top Glove raised to 'buy' at Citigroup
kltrader
Publish date: Thu, 07 Oct 2010, 10:05 AM
kltrader
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Stock Name: TOPGLOV
Company Name: TOP GLOVE CORPORATION BHD
Research House: CITI GROUP
Top Glove Corp, the world's largest rubber-glove maker, was raised to "buy" from "hold" at Citigroup Inc because the recent slide in the shares has priced in the "negative" impact of the stronger ringgit and high latex prices on earnings.
The company's outlook is expected to be better from the second quarter of its financial year 2011, Fiona Leong, an analyst at Citigroup, said in a report dated Oct. 6.
The share-price estimate was cut to RM6.70 from RM7.25. -- Bloomberg
Company Name: TOP GLOVE CORPORATION BHD
Research House: CITI GROUP
Top Glove Corp, the world's largest rubber-glove maker, was raised to "buy" from "hold" at Citigroup Inc because the recent slide in the shares has priced in the "negative" impact of the stronger ringgit and high latex prices on earnings.
The company's outlook is expected to be better from the second quarter of its financial year 2011, Fiona Leong, an analyst at Citigroup, said in a report dated Oct. 6.
The share-price estimate was cut to RM6.70 from RM7.25. -- Bloomberg
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