0203 GMT - Kossan Rubber Industries is on track to post sequential earnings recovery in the upcoming quarters and remain profitable throughout 4Q 2024-2025, says UOB Kay Hian. Earnings could be supported by key catalysts including higher volume sales and a consistent increase in average selling prices, Jack Goh says in a note. The glove maker may also benefit from U.S. revised tariffs on Chinese gloves, which would begin soon, he adds. UOB Kay Hian raises the stock's target price to MYR2.65 from MYR2.42, while maintaining a buy rating. Shares are last 1.7% higher at MYR2.40.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
November 19, 2024 21:04 ET (02:04 GMT)
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