SINGAPORE (Nov 6): Maybank is maintaining its “buy” call on glovemaker Riverstone with a higher target price of $2.36 after its 3Q earnings beat expectations of the house on higher margins.

In a Friday note, OCBC also expects good results to continue from contributions of new capacity and currency benefits and has raised FY15-17 EPS by 6-8%.

To recap, Riverstone’s 3Q15 core earnings grew 85% on year, on better than expected gross margin due to favourable currency and material prices.

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