Maybank IB upgrades Malaysian glove sector to ‘neutral’
The research house, which upgraded its recommendation on the glove sector to “neutral”, also said that the sector’s valuation has hit a new all-time high.
PETALING JAYA: Maybank IB Research has turned more upbeat on the Malaysian glove manufacturers, driven by the sector’s above-market earnings growth prospect.
The research house, which upgraded its recommendation on the glove sector to “neutral”, also said that the sector’s valuation has hit a new all-time high.
At a weighted average 12-month forward price-to-earnings (PE) ratio of 33 times, Maybank IB Research has now benchmarked glove stocks’ valuations on its unchanged 2019 earnings per share (EPS) forecasts.
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