Analysts raise Top Glove earnings forecasts but maintain TPs
KUALA LUMPUR (Dec 10): Some analysts that cover Top Glove Corp Bhd have raised their earnings forecasts for the glove making giant, but kept their target prices (TPs) for the counter. The move is considered unusual, since an increase in earnings forecasts typically leads to an upward revision of TPs, or for stocks that do not have "buy" calls, an upgrade in recommendations. Kenanga Research's Raymond Choo pointed out that Top Glove's first quarter ended Nov 30, 2020 (1QFY21) profit after tax and minority interests of RM2.38 billion came in at 36% of Kenanga's full-year forecasts and 26% of th...
Source: theedgemarkets.com