29 April 2012

TopGlove: Week 17 (23-27 April) Stock Picks Commentary

Stock Picks #5
TopGlove Corporation Bhd (TOPGLOV)

Week high: RM 4.72 (Up 29 sen – 6.5 %)

On 24 April, Maybank Research in its analyst report upgraded TopGlove Corp from "SELL" to "BUY" raising its target price to RM 5.40.

Maybank Research stated that TopGlove sales volume picked up in its latest quarter to almost back to its H1N1 peak as well as its key production cost (latex cost) has begun its seasonal downtrend.

Market took this news as positive as higher sales and lower production costs is expected to be beneficial to TopGlove's net profits in the coming months.

TOPGLOV stock rose 25 sen (5.6%) since 24 April to week’s highest RM 4.72 on 25 April and closed at RM 4.68 at the end of this week.


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