RHB RESEARCH INSIGHTS – PICK OF THE DAY: TOP GLOVE

 

RHB
OSK
Friday, 21 March 2014
Bursa Malaysia Trade Statistics – 20 Mar 2014
Participation
(%)
Bought
(RM m)
Sold
(RM m)
Net
(RM m)
Institutions 52.9 1,051.2 905.6 145.6
Retail 18.8 346.2 348.3 -2.1
Foreign 28.3 453.2 596.7 -143.5
Total 100.0 1,850.6 1,850.6 0.0
Source: theSundaily – Business
Daily Recommendations
buy buy FAIR VALUE MYR 2.95 Jaya Tiasa
hold hold FAIR VALUE MYR 3.54 SP Setia
buy buy FAIR VALUE MYR 5.00 Ta Ann Holdings
hold hold FAIR VALUE MYR 5.67 Top Glove Corporation Berhad
buy buy FAIR VALUE MYR 7.19 Scientex
Featured Reports
Top Glove – Results Dragged By Forex Losses
HOLD FAIR VALUE: MYR 5.67
Top Glove’s 1HFY14 results came in below our and market expectations, at 40% and 41% of the respective full-year forecasts. We continue to anticipate a challenging environment as its production mix is still heavily tilted towards natural rubber (NR) gloves. Maintain NEUTRAL, with our TP adjusted lower to MYR5.67 (from MYR6.34), following our earnings downgrade.  Below expectations. Top…
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RHB Research Guide to Investment Ratings
Buy: Share price may exceed 10% over the next 12 months
Trading Buy: Share price may exceed 15% over the next 3 months, however longer-term outlook remains uncertain
Neutral: Share price may fall within the range of +/- 10% over the next 12 months
Take Profit: Target price has been attained. Look to accumulate at lower levels
Sell: Share price may fall by more than 10% over the next 12 months
Not Rated (NR): Stock is not within regular research coverage
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