Shares of Supermax surged to its highest in at least ten years after it reported that its net profit doubled in the 3Q20 amid overwhelming glove demand.
KUALA LUMPUR: Brokerage firms expect Supermax Corp Bhd
’s (Supermax) fourth quarter ending June 30 (4Q20) earnings to be better than its third quarter results on the back of an increase in average selling prices (ASPs), a surge in glove orders and better economies of scale.
As such, CGS-CIMB Research is keeping its “add” call on Supermax with a higher target price of RM6.50.
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