0147 GMT - Riverstone Holdings may benefit from a favorable macroeconomic backdrop, OCBC Investment Research's Donavan Tan says in a research report. The expanding electronics industry, driven by the rise of AI and its applications, is expected to boost demand for high-end cleanroom gloves, the analyst says. Also, the growing "China Plus One" trend, fueled by U.S. tariffs on China-made medical gloves, offers a substantial opportunity for Malaysian glove manufacturers like Riverstone, Tan adds. This trend refers to companies avoiding investing only in China and diversifying into other countries. OCBC initiates coverage of the stock with a buy rating and a fair value estimate of S$1.16. Shares are 1.0% higher at S$1.05. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 15, 2024 20:47 ET (01:47 GMT)
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