0356 GMT - Riverstone Holdings' growth outlook still appears positive, the Singapore Research team at RHB Research says. This is based on the recovery of global semiconductor sales and the company's differentiated exposure within the healthcare specialty gloves industry, which has better profitability than generic gloves, the team says. Robust chip sales suggest the global semiconductor industry is recovering on drivers including chip demand for artificial intelligence computing, the team says in a note. In the healthcare segment, the Singapore-listed glove manufacturer is likely to diversify product offerings toward specialty gloves to yield better margins. RHB raises the stock's target price to S$1.22 from S$1.07 with an unchanged buy rating. Shares are 0.9% higher at S$1.08. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 08, 2025 22:56 ET (03:56 GMT)
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