Friday, December 16, 2016

Top Glove

- Maybank KE upgraded Top Glove to Hold from Sell, raised TP to RM5.30 from RM4.25, amid brightening outlook
- Top Glove earnings and revenue improved on stronger USD/MYR , mild increase in ASP, and higher sales volume
- As such, Investors in Singapore may also keep an eye on Riverstone for possible renewed interest today
- Maybank KE’s last call on Riverstone was a Hold with TP of $0.92
- Riverstone trades at consensus FY17e P/E of 15.8x against Top Glove's 17.7x

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