OSK Research said ADVENTA BHD [] is expected to announce its 9MFY10 results later in September but expectations are that it may come in below consensus.
OSK Research said on Monday, Sept 13 that it also expects the earnings to be below the research house’s expectations given that latex prices stayed at a high of about RM7 per kg, and the US dollar continued to weaken against the ringgit.
“However, we believe 4QFY10 would be a better quarter since the company will have additional capacity from its new nitrile glove lines. We are tweaking our FY10-11 earnings downward by 8%-13%. Maintain Buy, but at a lower target price of RM3.73,” it said. - Written by OSK Research
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