Riverstone Holdings - CGS-CIMB Research 2021-11-10: Valuations Attractive At Current Levels

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
SGX Stock Analyst Report ADD MAINTAIN ADD 1.20 DOWN 1.400

Read also CGS-CIMB's most recent report:
2022-02-23 Riverstone - Bumper Dividends

Target prices by 2 other brokers at Riverstone Target Prices.
Listing of broker reports at Riverstone Analyst Report.

Relevant links:
Riverstone Share Price History,
Riverstone Announcements,
Riverstone Dividends & Corp Actions,
Riverstone News Articles


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