Despite robust demand for healthcare gloves in the near- to medium-term, analysts are trimming their target prices for Riverstone Holdings on the gradual decline in average selling price (ASP).

DBS Group Research analyst Ling Lee Keng notes Riverstone Holdings’ strong 1HFY2021 results, driven by the surge in demand on the back of global shortages. 

In an Aug 10 note, Ling is maintaining “buy” with a lowered target price of $1.77 from $1.86 previously, which represents a 39% upside. 

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