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Top Calls
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Company Update � Top Glove (BUY, maintain)
- Abating competition Top Glove is scheduled to release its 3Q FY17 results on 16 June. We expect earnings to rebound sharply yoy albeit off a low base, and an improvement in ASP, driving margin expansion. Despite the absence of capacity expansion, topline should remain fairly solid given higher ASPs. We expect 3Q FY17 earnings to range from RM80-85m. After rolling over our valuation to CY18E, we raise our TP to RM6.50. BUY.
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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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