KUALA LUMPUR: Top Glove Corp Bhd managed to eke out marginal gains in morning trade on Wednesday, Jan 12 despite concerns about the near-term outlook by analysts.
The share price rose to a high of RM5.45 in early trade. However, by 10.19am, it was just one sen higher at RM5.39.
RHB Research Institute said it was maintaining its fair value for Top Glove Corp Bhd at RM4.10 based on unchanged target CY11 PER of 12.5 times.
The research house said the near-term outlook for Top Glove remains challenging.
RHB Research said the factors were the longer time frame now required to pass on the higher cost and lower proportion of cost increase that can be passed on to its customers as demand for rubber gloves continues to remain weak.
It said there was no change to its Underperform call on the stock.
The share price rose to a high of RM5.45 in early trade. However, by 10.19am, it was just one sen higher at RM5.39.
RHB Research Institute said it was maintaining its fair value for Top Glove Corp Bhd at RM4.10 based on unchanged target CY11 PER of 12.5 times.
The research house said the near-term outlook for Top Glove remains challenging.
RHB Research said the factors were the longer time frame now required to pass on the higher cost and lower proportion of cost increase that can be passed on to its customers as demand for rubber gloves continues to remain weak.
It said there was no change to its Underperform call on the stock.
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