0514 GMT - Top Glove's earnings are on the cusp of a progressive recovery this year, UOB Kay Hian analyst Jack Goh says in a note. The glove maker is likely to benefit from U.S. tariff hikes, including the additional 10% levy on Chinese goods, he writes. That could entice U.S. distributors to stop importing medical gloves from Chinese producers and instead buy from Malaysian manufacturers such as Top Glove, he says. The current risk-reward tradeoff appears fair but still provides palatable upside based on 2026 valuations, he adds. UOB KH maintains the stock's hold rating and target price of MYR1.31. Shares last closed at MYR1.22. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 00:14 ET (05:14 GMT)
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