Stock Name: Riverstone
Company Name: RIVERSTONE HOLDINGS LIMITED
Company Name: RIVERSTONE HOLDINGS LIMITED
| Research House: Maybank Kim Eng | Price Call: BUY | Target Price: 1.21 |
SINGAPORE (Nov 5): Maybank Kim Eng has nudged up its earnings per share forecast for rubber glove maker Riverstone by 1% to reflect lower expenses, and maintained its "buy" rating and $1.21 price target.
Calling the stock undervalued, Maybank Kim Eng analysts John Cheong and Gregory Yap said in a note that Riverstone trades at 12 times projected FY2015 earnings versus an average of 15 times for its peers, even though the company is "on track for the strongest growth, highest dividend yields and second-highest margins" in the sector.
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