KUALA LUMPUR: RHB Research has initiated coverage on Karex Bhd
with a Buy call and a RM2.59 target price as it expects earnings from the world’s larget condom manufacturer to bounce, driven by a doubling in capacity as well as the growth in the tender market.
In a note on Tuesday, RHB said Karex, which is set to list on Bursa Malaysia’s Main Market on Nov 6 with a RM500mil market cap, would double its production capacity to six billion pieces by 2015.
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