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Maybank KE raises target price on Top Glove, positive on Malaysia glove sector

Brokerage expects glovemaker to post a Q4 net profit of RM782m, following strong Q3 results

Published Fri, Jun 12, 2020 · 09:50 PM

Singapore

MAYBANK Kim Eng (Maybank KE) has maintained its "buy" rating on Top Glove while raising its target price on the Malaysian glovemaker to RM21.90, from RM20 previously.

The Singapore Exchange-listed shares of Top Glove, which also has a listing in Malaysia, closed at S$5.70 on Friday, up S$0.14 or 2.5 per cent. Its Bursa Malaysia-listed shares rose 1.2 per cent or 20 sen to RM16.90.