KUALA LUMPUR: AmInvestment Bank Research has cut its earnings forecasts for Econpile Holdings Bhd on its belief that the government is unlikely to roll out new major public infrastructure projects over the short-term. We maintain our view that the government will have very limited room for fiscal manoeuvre in 2021 given the elevated national debt, even before the pandemic. The government’s fiscal position has been weighed down further by the economic impact of the pandemic (including reduced tax and petroleum revenues), as well as the massive relief spending to cushion the economic impact of the pandemic, it said in a note.
KUALA LUMPUR: UOB Kay Hian Malaysia Research is retaining its Buy call on Top Glove Corporation Bhd with a lower target price of RM7.60 from RM10.40, which is independent of the listing in Hong Kong, as it rolls over its valuations to CY22.
KUALA LUMPUR: Carlsberg Bewery Malaysia Bhd has presented itself as a recovery play as it continues to trade at below-mean valuations, says Kenanga Research following the brewer's release of its FY20 earnings result
KUALA LUMPUR: RHB Research has raised its FY22 earnings forecast on Malaysia Airports Holdings Bhd as it expects the end-February start of the National Covid-19 Immunisation Plan to signal the gradual improvement of air passenger volume.
Vaccination demand for gloves to more than offset the decline from testing demand.
KUALA LUMPUR: Hong Leong Investment Bank (HLIB) Research is retaining its overweight stance on glove makers as it sees demand and average selling prices (ASPs) will be driven by testing frequency and vaccine rollout using gloves.
In its research note on Tuesday, it said for the remainder of CY21, it expects vaccination demand for gloves to more than offset the decline from testing demand.
“Even with global supply expected to rise by 20%, we expect there to be a supply shortage of circa 12.4 billion pieces in CY21. Based on our new valuation methodology, our top pick Top Glove’s TP is lowered from RM10.54 to RM8.06. Maintain Buy, ” it said.