KUALA LUMPUR: Maybank KE Research has downgraded the rubber glove sector to Neutral from Overweight, saying price-earnings ratio of glove stocks have been r-rated significantly from 8-16 times to 11-19 times and as such valuations are fairly reflective of fundamentals.
Kossan remains its top pick, with a higher target price of RM7.60, with Hartalega
kept on Hold at a target price of RM6.71 and Top Glove downgraded to Hold from Buy at a slightly lower RM6.40 target price.
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