- We revise our earnings forecast – cutting FY24E loss projection and now expect Top Glove (SGX:BVA) to turnaround in FY25. We also raise FY26E net profit forecast. We have also raised our Top Glove's target price to MYR0.80.
- - Read this at SGinvestors.io -
Improvement in sales volume
- Similar to its Malaysian peers, Top Glove has experienced a pick-up in sales volume since Oct 2023 which we attribute to restocking activities. Its plant utilisation rate is expected to improve to 45-48% by end-FY24E (from 30%- 35% in 4QFY23 and 35%-36% now) with the increase in sales volume.
- - Read this at SGinvestors.io -
Raw material prices are stabilizing
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Wong Wei Sum CFA Maybank Research | https://www.maybank-ke.com.sg/ 2023-12-12
Read also Maybank's most recent report:
2024-11-24 Top Glove - Strategic Joint Venture Backed By Ready Order.
Previous report by Maybank:
2024-07-29 Malaysia Gloves Sector - Intensifying Competition; Downgrade To Tactical Positive.
Price targets by other brokers at Top Glove Target Prices.
Listing of research reports at Top Glove Analyst Reports.
Relevant links:
Top Glove Share Price History,
Top Glove Announcements,
Top Glove Dividends & Corporate Actions,
Top Glove News Articles
