Top Glove Corporation; Buy; RM5.80
Price target: RM7.20; TOPG MK
Sales volume picked up

1QFY14 profit in line; sales volume grew 3% q-o-q led by latex gloves, softer nitrile gloves volume. Expect steady sales volume growth to sustain earnings. Maintain BUY and RM7.20 TP.

Gamuda; Buy; RM4.64
Price target: RM5.40; GAM MK
Earnings still trending up

1QFY14 earnings in line; adopts FRS11. May win orders for MRT Line 2 and southern double-tracking projects. Longer wait for special dividends. Maintain BUY rating, RM5.40 TP (SOP metric).

Source: HwangDBS Research - 18 Dec 2013