Affin Hwang Capital Research Highlights

HwangDBS Research Highlights - 13 Mar 2014

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Publish date: Thu, 13 Mar 2014, 10:01 AM
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This blog publishes research highlights from Affin Hwang Capital Research.

Top Glove Corp; Buy; RM5.70
Price target:RM6.80 (Prev RM7.20); TOP MK
Attractive entry level

Maintain BUY with a lower RM6.80 TP; current valuation at 15x CY14 EPS is attractive. Earnings growth in FY14/15 will be driven by increasing demand from emerging markets and margin expansion. Look forward to stronger 2H. Expect subdued 2QFY14 results due to flat sales volumes and weak margins.

Source: HwangDBS Research - 13 Mar 2014

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