KUALA LUMPUR: CGS-CIMB Equities Research raised its target price for Kossan Rubber Industries from RM15 to RM16.40 due to higher average selling prices (ASP), new glove factory and longer order book visibility.
It said on Monday it raised its FY20-22F EPS by 5% to 11.1% to account for higher-than-expected ASPs from 3Q20 onwards and a new glove plant with capacity to produce 1.4 billion pieces per annum which will be fully commissioned by end-1H21.
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