JP Morgan’s view on glove makers conservative

The initiation coverage report on Top Glove Corp Bhd, Hartalega Holdings Bhd and Kossan Rubber Industries Bhd at target prices of RM3.50, RM8.50 and RM3.80, respectively, was a contrast view as compared to local research houses who remain positive on the sector’s outlook.

PETALING JAYA: JP Morgan is likely the first research house to issue “underweight” calls on three local glove players who have experienced a run up in share prices since May this year.

The initiation coverage report on Top Glove Corp Bhd, Hartalega Holdings Bhd and Kossan Rubber Industries Bhd at target prices of RM3.50, RM8.50 and RM3.80, respectively, was a contrast view as compared to local research houses who remain positive on the sector’s outlook.