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)
(END) Dow Jones Newswires
October 07, 2024 02:37 ET (06:37 GMT)
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