Riverstone Holdings - Valuations Attractive At Current Levels
- Riverstone (SGX:AP4)'s 3Q21 net profit of RM266.4m (-48% q-o-q, +49% y-o-y) in line with expectations. Sequentially weaker profit was mainly due to weaker healthcare glove ASPs.
- Cleanroom demand remains resilient in 4Q21 supporting stable ASPs. Healthcare ASPs still on a downtrend, but volumes seeing signs of recovery.
- Back-loaded dividend payout for FY21F likely to be key support for Riverstone's share price. 50% dividend payout ratio assumption points to 19.7% dividend yield.
- Reiterate ADD rating on Riverstone.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
ONG Khang Chuen CFA CGS-CIMB Research | https://www.cgs-cimb.com 2021-11-10 2021-11-10
Previous report by CGS-CIMB:
2021-08-06 Riverstone - Tailwinds Subsiding
Target prices by 2 other brokers at Riverstone Target Prices.
Listing of broker reports at Riverstone Analyst Report.
Riverstone Share Price History,
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