Rubberex to register supernormal 3-year forward earnings CAGR of 30%, says RHB
Source: The Edge Markets
RHB Investment Bank Bhd research has initiated coverage on Rubberex Corp Bhd at RM1.29 with a “Buy” rating and target price (TP) of RM1.68 which implies 23.5x FY21F P/E, a 24% discount to sector average reflected by its smaller market cap and liquidity.
In a note today, the research house said it expects Rubberex to register supernormal 3-year forward earnings CAGR of 30%.
Tuesday, 28 April 2020
Source : TheStar
Perhaps the comparatively low valuation ascribed to Rubberex is because of this fact – it is largely seen as an industry glove maker, whereas the big boys such as Top Glove Corp Bhd and Hartalega Holdings Bhd are in the business of making medical gloves whose demand has surged in light of the outbreak of the coronavirus, which is climbing across China and beyond. That though is not entirely correct, points out the managing director of the Ipoh-based company, Khoo Chin Leng.
Saturday, 08 Feb 2020