CGS-CIMB Research’s Ong Kang Chuen has maintained his “neutral” call on the rubber glove sector, but highlighted “add” calls on Riverstone Holdings and UG Healthcare (UGHC) with target prices of  $2.50 and $1.70 respectively.

In a Jan 12 report, Ong said he believes fundamentals of glovemakers remain strong in FY2021, as a resurgence in Covid-19 worldwide underpin firm demand for gloves. 

He revealed that the Malaysian Rubber Glove Manufacturers Association (MARGMA) estimates that the global glove shortage situation will persist in 2021, due to increased usage in the medical field as well as in non-medical industries. 

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