CGS-CIMB Research retains overweight call on glove makers

TheStar Sun, Sep 13, 2020 08:23am - 3 years View Original


In term of ASPs, glove makers are expecting further hikes up to at least 1QCY21F. This is on the basis of the recent increase in raw material prices as well as the acute global shortage of gloves.

KUALA LUMPUR: CGS-CIMB Equities Research reiterates its Overweight call on the glove sector as concerns of potential declines in average selling prices (ASPs) from CY21F onwards are premature at this juncture.

The research house said signs are showing that ASPs may stay elevated for a longer period (up to end-CY21F).

“Despite its bright prospects, the Malaysian glove sector is trading attractively at 16.7 times CY21F P/E, a 24.3% discount to its five-year mean P/E of 22.1 times.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

CIMB 6.830

Comments

Login to comment.