https://klse.i3investor.com/blogs/glovelove/2020-06-12-story-h1508754307-Hartalega_Insulated_by_Dow_Jones_correction_and_further_upside_from_ASP.jsp

This was mention by NorthCape Capital CEO:

https://klse.i3investor.com/blogs/kianweiaritcles/2020-06-09-story-h1508698628-A_more_than_100_jump_in_glovemakers_shares_can_run_further.jsp

Their internal TP is RM25, after obtaining updated ASP of at least 40% from all of their big 5 US customer that made up around 40% of their sales.

Means that local IB is slow in updating the TP

Maybe they accumulating before telling the news..

Next quarter profit should be between 300 - 350 mil instead of 250 mil per Kenanga and CIMB

Local IB did not mention Harta plant is mostly automation compare to the other big 3, churn out gloves at faster pace saving cost

Harta plant is also in one location saving cost

Harta presence is largest in US compare to other big 3, now US is the worst hit, Harta should benefit most rather than Top Glove

Local IB did not mention as they want to collect Harta after selling Top Glove

IB underestimated Harta value

Harta ASP has increase at least more than 40% few days ago due to acute shortage

IB only included ASP increase of 8%

Should be TP RM22, not RM14.6 by CIMB

US IB already upgrade to above RM20 - RM22