0223 GMT - Hartalega Holdings may be able to raise its average selling prices by US$1-US$2 per 1,000 gloves in its fiscal 3Q, TA Securities analyst Tan Kong Jin says in a note. The glove maker will likely pass on higher costs to customers amid higher glove demand. There is some order switching by U.S. customers ahead of higher tariff on Chinese gloves, he notes. Tan expects Hartalega's sales volumes to improve by approximately 9.2% sequentially, as customers may keep replenishing inventory. TA Securities raises Hartalega's target price to MYR3.98 from MYR3.00 and maintains a buy rating. Shares are 0.9% lower at MYR3.29. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
November 12, 2024 21:23 ET (02:23 GMT)
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