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.
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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