Saturday, March 27, 2010

CIMB Research maintains Buy on Top Glove

Written by CIMB Equities Research
Thursday, 18 March 2010 10:57
Bookmark and Share

KUALA LUMPUR: CIMB Equities Research said Top Glove Corp Bhd's 1H net profit exceeded its forecast by 4% and consensus by 9% and it expects an even stronger 2H given the additional capacity that is coming in.

"We are raising our FY10-12 forecasts by 8-13% after adjusting our capacity and utilisation figures as well as latex, average selling price and margin assumptions. This increases our target price from RM16.99 to RM17.90 which we continue to peg to a 10% premium over our target market P/E of 15x," it said on Thursday, March 18.

It reiterated its BUY call, with the earnings outperformance being a potential share price catalyst, along with the continuing uptick in glove demand and Top Glove’s upcoming expansion.

CIMB reasearch 好像很厉害酱,target price 每次都越 set 越高,不会直接 set 50 块更好,哈哈哈!!!

No comments:

Post a Comment