Bursa Malaysia Stock Watch
Top Glove: Maintain Buy - Make This Your Top Priority
kltrader
Publish date: Mon, 11 Jun 2012, 09:35 AM
kltrader
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A conducive operating environment. Upcoming 3QFY8/12 results is likely to meet expectations. We expect Top Glove's earnings growth momentum to sustain on the declining latex cost, stronger USD and higher sales volume. Additionally, its current plant automation exercise will see the group largely unscathed by the minimum wage hikes. Valuation is still undemanding with forward PER of 14x, below its mean of 16x. Maintain BUY and TP of MYR5.40 (16x CY13 PER).
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Source: Maybank Research - 11 June 2012
Click here for full report
Source: Maybank Research - 11 June 2012
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