Bursa Malaysia Stock Watch
HARTA - OSK Research maintains Buy on Hartalega, TP RM7.20
kltrader
Publish date: Wed, 10 Nov 2010, 11:35 AM
kltrader
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Stock Name: HARTA
Company Name: HARTALEGA HOLDINGS BHD
Research House: OSK
KUALA LUMPUR: OSK Research said HARTALEGA HOLDINGS BHD []'s 1HFY11 results were within expectations, as the robust results were due to the right product mix of 70% nitrile and 30% natural rubber gloves.
It said on Wednesday, Nov 10 that most nitrile gloves in general are sold to big healthcare multinational corporations, from which purchase orders are more stable than those for natural rubber gloves.
'This is especially so for powdered gloves targeting the developing countries, for which orders can fluctuate according to demand and supply. We continue to like the company's market leadership in the nitrile gloves market,' it said.
OSK Research said its target price for Hartalega was RM7.20 based on the existing PER of 13 times FY12 EPS.
Company Name: HARTALEGA HOLDINGS BHD
Research House: OSK
KUALA LUMPUR: OSK Research said HARTALEGA HOLDINGS BHD []'s 1HFY11 results were within expectations, as the robust results were due to the right product mix of 70% nitrile and 30% natural rubber gloves.
It said on Wednesday, Nov 10 that most nitrile gloves in general are sold to big healthcare multinational corporations, from which purchase orders are more stable than those for natural rubber gloves.
'This is especially so for powdered gloves targeting the developing countries, for which orders can fluctuate according to demand and supply. We continue to like the company's market leadership in the nitrile gloves market,' it said.
OSK Research said its target price for Hartalega was RM7.20 based on the existing PER of 13 times FY12 EPS.
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