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Top Calls
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Results Note - Top Glove
(BUY, maintain)
- Delayed orders Top Glove�s 3Q FY17 earnings of RM78m came in slightly below our preview range of RM80-85m. The key deviation was attributed to the 5% qoq decline in volume, as buyers delayed their purchases due to the higher ASPs. However, 4Q FY17E earnings should trend stronger with order replenishments, and buoyed by lower raw-material prices. We reaffirm our BUY call and TP of RM6.50.
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Other Calls
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For
important disclosures, please refer to the Disclosure section at the end of
the individual linked research reports. |
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