SINGAPORE (Jul 9): Against the backdrop of the Covid-19 pandemic, cleanroom product manufacturer Riverstone Holdings is seeing “outperformance” that is expected to continue into the next quarter. 

UOB Kay Hian and CGS-CIMB are maintaining “buy” and “add” on the company respectively, with the latter lifting the target price to $3.90 from $3.12.

The Singapore-listed company will release its 2QFY20 results by early-August. CGS-CIMB analyst Ong Khang Chuen projects a strong net profit of RM72 million ($23.51 million), at 54% q-o-q and 102% y-o-y. 

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