The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0637 GMT - Riverstone's earnings could be weighed by the dollar's weakness against the Malaysian ringgit, RHB Research analysts write in a note. They estimate a 5% change in USD/MYR could impact the glove maker's 2025-2026 net earnings by 8% each year. RHB also lowers its 2024-2026 earnings estimates to reflect the impact of the weakening dollar against the ringgit. However, this could be mitigated by Riverstone raising average selling prices to offset against the weakening dollar, the analysts say. RHB trims Riverstone's target price to S$1.02 from S$1.04 and maintains a buy rating on the stock. Shares are last flat at S$0.90. (amanda.lee@wsj.com)

0144 GMT - Top Glove Corp. may post a narrower core loss in its fiscal 4Q, with an expected 20% increase in sales volume likely to offset the dollar's 3% drop against the ringgit, RHB IB analyst Oong Chun Sung says in a note. He forecasts a core loss of MYR2 million-MYR5 million, from a core loss of MYR53.5 million in fiscal 3Q. Improving investor sentiment on favorable operating conditions could position Top Glove for a "meaningful share price recovery," he notes. RHB cuts Top Glove's target price to MYR1.26 from MYR1.28 as it lowers the company's FY 2025-FY 2026 earnings forecasts due to the dollar's weakness against the ringgit, while maintaining a buy rating on the stock. Shares are 1.0% higher at MYR1.02.(yingxian.wong@wsj.com)

0112 GMT - Southeast Asia's glove makers appear to benefit from improved demand visibility, supply resumption and stabilizing average selling prices, though a weaker dollar poses challenges to product exports, RHB IB analyst Oong Chun Sung and team say in a note. The coming U.S. tariff hike on China gloves is expected to help earnings of glove makers under their coverage as trade is diverted. The sector may also see restocking in 2H as demand-supply balance improves, they add. RHB maintains an overweight rating on Malaysia's rubber products sector, pegging Hartalega Holdings, Kossan Rubber Industries and Riverstone Holdings as its top sector picks.(yingxian.wong@wsj.com)

(END) Dow Jones Newswires

October 07, 2024 04:20 ET (08:20 GMT)

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