HLIB Research raises target price for HeveaBoard to 48 sen
KUALA LUMPUR (Sept 9): Hong Leong Investment Bank (HLIB) Research raised its target price (TP) for HeveaBoard Bhd to 48 sen from 40 sen, saying today orders secured by the company’s ready-to-assemble (RTA) furniture manufacturing division until February 2021 are encouraging.
"While uncertain ASPs (average selling prices) for the particle board segment will continue to cloud near-term earnings visibility, secured orders for the RTA division until February 2021 are encouraging,” HLIB analyst Gan Huan Wen wrote in a note today.
Gan said HLIB had maintained its "hold" call for HeveaBoard shares.
More to come
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