- Top Glove (SGX:BVA) is scheduled to report its 3QFY24 (Mar-May 2024) results on 19 Jun. We expect core loss to narrow q-o-q to MYR40-45m (vs a core loss of MYR66m in 2QFY24), on the back of a recovery in sales volume and ASP.
- - Read this at SGinvestors.io -
- Our BUY call is premised on improving investor sentiment (from favourable operating dynamics) – we think Top Glove (being a high-beta) is poised for a meaningful share price recovery in 2024.
Top Glove's results preview.
- We expect Top Glove to deliver a core loss of MYR40-45m from a core loss of MYR66m in 2QFY24 on the back of:
- - Read this at SGinvestors.io -
- recovery in ASP.
- These catalysts should be offset by the recent 5-6% uptick in natural gas tariff and escalation of raw material prices (i.e. natural latex: +12%; acrylonitrile: +3.6%).
Industry dynamics turning favourable.
- Read more at SGinvestors.io.
Oong Chun Sung RHB Securities Research | https://www.rhbgroup.com/ 2024-06-18
Previous report by RHB:
2024-04-02 Top Glove - More Time Required For Turnaround.
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
