KUALA LUMPUR (March 11): Investment analysts are positive on Hartalega Holdings Bhd's RM7 billion expansion plan in the long term. However, some of them have trimmed their target price (TP) for the world's largest nitrile glove maker as they see the sentiment has turned cautious on the sector. Rapid capacity expansion in China, let alone those in Malaysia, meeting with an anticipated drop in demand following the faster-than-expected roll-out of vaccination globally, has prompted analysts to start cutting their hefty premium to the valuation of glove counters. Kenanga Research analyst Raymond Choo said in a note today he is positive on Hartalega’s Bukit Kayu Hitam land acquisition which reaffirms its commitment towards long-term future expansion growth as well as capitalising on post-Covid-19 demand growth, estimated at 15% to 20% per annum.