KUALA LUMPUR: Glovemaker Kossan Rubber Industries Bhd
’s strong Q2 results of RM33.5mil in earnings (+41.7 y-o-y, 0.7% q-o-q), bringing its first-half net earnings for the financial year 2013 to RM66.6mil, a 46% growth year-to-date, has prompted PublicInvest Research to reiterate its Outperform call, and BIMB Research to downgrade it to Neutral.
According to BIMB, there was not much potential upside on the current price of RM6.17, as it set fair valuation at RM6.01 from its earlier call of RM4.55.
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