Tuesday, February 8, 2011

Bursa Malaysia Price Target: Hartalega TP to RM7.40

KUALA LUMPUR: OSK Research said Hartalega's 9MFY11 results were within expectations, which it believed were contributed by its higher-end product mix comprising 80% nitrile gloves.

In its research report issued on Tuesday, Feb 8, it said these gloves are mostly sold to big healthcare MNCs which mostly place constant orders that do not fluctuate significantly even during a pandemic.

'Based on the encouraging numbers, we are upgrading our FY11-12 earnings by 3%-8%. We continue to like the company's market leadership in the nitrile gloves market. Maintain Buy but with a higher target price of RM7.40,' OSK Research said.

Source: The Edge, 8 Feb 2011

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