0110 GMT - Top Glove Corp.'s earnings outlook seems neutral, Public Investment Bank analyst Thye May Ting says in a note. Projected declines in raw material prices in 1H 2025 may pressure the company to maintain flat or slightly lower pricing to protect market share. However, higher sales volumes, spurred by a potential U.S. tariff hike on Chinese medical gloves due to take effect in January will likely mitigate some of that pressure, she says. Top Glove's production capacity is on track to increase 6.7% to 64 billion pieces annually, she adds. Public IB maintains a neutral rating on Top Glove with a MYR1.20 target. Shares are 3.0% higher at MYR1.36. (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
December 22, 2024 20:13 ET (01:13 GMT)
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