Stock Name: TOPGLOV
Company Name: TOP GLOVE CORPORATION BHD
MIDF Research has downgraded Top Glove Corp Bhd, the world's largest rubber glove maker, to 'neutral' from 'buy' as it sees a limited upside following the strengthening of the company's shares recently.
The stock has gained 12.8 per cent since the beginning of the year, according to data by Thomson Reuters, with eight 'buy' recommendations and one 'sell', MIDF, in a report on Friday, said.
Top Glove's net earnings for the nine months ended May 31 fell below expectations, as the company lowered its product prices. The brokerage maintained its target price of RM6.05 for Top Glove.
Shares of the company were down 1.26 per cent to RM6.26 while the benchmark index was up 0.67 per cent at 9.17am.-- Reuters
Company Name: TOP GLOVE CORPORATION BHD
| Research House: MIDF | Price Call: HOLD | Target Price: 6.05 |
MIDF Research has downgraded Top Glove Corp Bhd, the world's largest rubber glove maker, to 'neutral' from 'buy' as it sees a limited upside following the strengthening of the company's shares recently.
The stock has gained 12.8 per cent since the beginning of the year, according to data by Thomson Reuters, with eight 'buy' recommendations and one 'sell', MIDF, in a report on Friday, said.
Top Glove's net earnings for the nine months ended May 31 fell below expectations, as the company lowered its product prices. The brokerage maintained its target price of RM6.05 for Top Glove.
Shares of the company were down 1.26 per cent to RM6.26 while the benchmark index was up 0.67 per cent at 9.17am.-- Reuters
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