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Analysts forsee that future earnings r coming down with stiff competition fr China , Thailand ,existing players n new entrants in glove making . With the increase in price for raw materials , higher freights ,insurance etc . Overall overheads shall b higher n margin of profit reduced drastically. Expecting the counter to hit lower than RM 2......
this is based on Asp above usd80-90. many announced their expansion into gloves back then. 15 months later, most actually pull back or scale back but didn't make big announcement about it. Nobody considered how the big 4 have been competing with others for the past 30 years and yet still in business. Should top Glove hit below rm2, that s really a golden opportunity which won't come again maybe in the next 15 years. I am buying at 2.50 would cont to pick up slowly if it cont to drop to 2 or up 3
Those new venture into glove manufacturing dying first ; I believe will drop to JP Morgan’s TP of 2.20 or lower a bit due to Topglove wasted a lot of money in share buy back n its labour issue is more unstable than Kossan n Harta … But not easy to drop below Rm 2.00…
uncle your underwear not worth money lah. for those who have been with Top Glove for at least 10 years, you would have the confidence to buy and hold. Only those goreng goreng last year and this year are selling panicky.
