Top Glove TP raised at UBS


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(Jan 11): analyst Nicole Goh downgraded the recommendation on Top Glove Corp Bhd to sell from under review.

Goh raised the target price to RM7.80 from RM7.40, implying a 13 percent decrease from the last regular trade. The target is 4.7 percent above the consensus average of RM7.45. Top Glove had 9 buy recommendations, 8 holds and 2 sells previously.

In the past six years and 11 months, UBS has rated Top Glove buy three times, sell three times and neutral three times.

The shares rose an average 56 percent in the periods rated buy,fell an average 8.2 percent in the periods rated sell and rose an average 11 percent in the periods rated neutral.

Analysts raised their consensus one-year target price for the stock by 27 percent in the past three months. Forecasts range from RM5.53 to RM9.40.


Source: The Edge Markets

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