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All gloves stock will now go back to the original point to the pre-pandemic level price as seen in the great 4 performance - TG, Harta, Supermax & Kossan.
Looking at the PE now it might be low but the PE will gradually increased by QoQ because of the gradually decline in sales, ASP, higher cost of raw materials, lower profit and also competition from locally and abroad as more players are entering this sectors since 2020.
Hence in my opinion Comfort, Careplus, Adventa will go below 1 in this short term of time.
Investors is calculating all gloves will go back to pre-pandemic price. Pandemic gain is not prove of company actual performance. Even big 4 king cant sustain the profit so IB can determine their price will fall to pre-pandemic level. After calculation done, it seems Maybank Investment Bank giving price rating of 1.68 to TG is reasonable.
