"We retain our Add call and ex-2-for-1 bonus issue TP of RM9.20 (18x CY21 P/E, in line with its five-year mean)," CGS-CIMB Research said.
KUALA LUMPUR: CGS-CIMB Equities Research reiterates its positive view on Top Glove expects higher average selling prices (ASP), particularly for nitrile gloves at +20% month-on-month (MoM) in September and October and another +10% in November due to strong demand for gloves.
It said on Wednesday it maintained its Add for the world’s largest glove maker with an unchanged TP of RM9.20 (18 times CY21 P/E).
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