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Freedom Holding Corp Subsidiaries S&P Global Rating Raised
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Adaptis Capital has announced plans to enable Kenyans to invest in the US Stock Exchange
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Oatly s IPO Is Just the Beginning Plus 9 Best Vegan Oat Milk Products to Try
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Brookfield Property Partners Announces Mailing of Circular for Special Meeting of Unitholders to Consider Privatization Transaction and Provides Update to Transaction Consideration
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UOB Kay Hian Research said a potential developing corporate event is Top Glove’s withhold release order (WRO) by the US Customs and Border Protection (CBP).
KUALA LUMPUR: The surge in Top Glove’s American Depository Receipt (ADR), which trades on the Nasdaq Stock Exchange, is an “anomaly or outlier” which could boost investor sentiment towards the shares.
According to a research note on Monday by UOB Kay Hian Malaysia Research, it retained its Hold call and target price of RM5.15 as it did not expect the 69% surge of the ADR to see a similar surge om Bursa Malaysia.
“To reiterate, we opine that this development does not fundamentally reflect Top Glove’s fundamentals, ” it said, commenting on the price of the ADR which had last Friday jumped 69% to US$7.50 from US$4.45.