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Top Glove kept at 'buy' as it rides on solid global demand growth

Samantha Chiew
Samantha Chiew6/22/2018 12:57 PM GMT+08  • 2 min read
Top Glove kept at 'buy' as it rides on solid global demand growth
SINGAPORE (June 22): Maybank Kim Eng is maintaining its “buy” recommendation on Top Glove, the world’s largest glove manufacturer, with a target price of RM12.90 ($4.40).
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SINGAPORE (June 22): Maybank Kim Eng is maintaining its “buy” recommendation on Top Glove, the world’s largest glove manufacturer, with a target price of RM12.90 ($4.40).

This came on the back of the group on June 19 announcing that its 3Q18 earnings have increased by 51.4% to RM117.6 million. This was largely attributed to its revenue reaching a record high of RM1.10 billion, representing a 26.6% increase from the same period last year.

Hence, 9M18 earnings rose 40% y-o-y to RM327 million.

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