Kenanga research said its target price on the counter was maintained at RM10.68 based on 11.5 times 2021 raised earnings per share of 92.9 sen.
KUALA LUMPUR: Kenanga Research has maintained an “outperform” call on Top Glove Corp Bhd
after raising its financial year 2021 (FY21) net profit forecast by 40% to account for higher average selling prices.
“Raised estimated FY21 net profit by 40% after hiking our average selling price (ASP) from US$55 per 1,000 pieces to US$70 per 1,000 pieces and assuming 80% utilisation or 75 billion pieces in volume sales (taking into account of the temporary production loss in Klang factories).
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
