KUALA LUMPUR: Kenanga research upgraded Supermax Corp Bhd
to outperform and maintained its target price at RM1.70 as it expects its valuation gap to peers' average to narrow from the current 40% discount to the 30% historical level.
In a note, Kenanga said the glove maker's FY19 core net profit of RM117mil, 10% higher year-on-year, came within 93% of its estimates although it missed consensus predictions at 89% of full-year estimates.
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