KUALA LUMPUR: Hartalega Bhd, which is due to report its earnings on Tuesday, Aug 10, was the top loser in afternoon trade.
At 3.06pm, it was down 16 sen to RM7.82 with 139,500 shares done. Another glove maker, Supermax lost 13 sen to RM5.87.
The broader market was cautious while blue chips were in the red. The FBM KLCI fell 0.41 point to 1,360.25.
Maybank IB Research expects Hartalega to likely meet its expectations of around RM42 million net profit (up 59% on-year but down 9% on-quarter).
It said though overcrowding was a concern, it said Hartalega had the operating scale, market share, superior margins (7-18 percentage points premium to peers) and track record to defend against this short to mid-term setback better than smaller scale peers/new start-ups.
The research house maintained a Buy on Hartalega and discounted cashflow-based target price of RM10.10.
At 3.06pm, it was down 16 sen to RM7.82 with 139,500 shares done. Another glove maker, Supermax lost 13 sen to RM5.87.
The broader market was cautious while blue chips were in the red. The FBM KLCI fell 0.41 point to 1,360.25.
Maybank IB Research expects Hartalega to likely meet its expectations of around RM42 million net profit (up 59% on-year but down 9% on-quarter).
It said though overcrowding was a concern, it said Hartalega had the operating scale, market share, superior margins (7-18 percentage points premium to peers) and track record to defend against this short to mid-term setback better than smaller scale peers/new start-ups.
The research house maintained a Buy on Hartalega and discounted cashflow-based target price of RM10.10.
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