During the quarter, Top Glove reported a narrower loss of RM57.7 million compared to the loss of RM168.2 million in the 1QFY2023.
Maybank Securities analyst Wong Wei Sum has downgraded Top Glove to “sell” from “hold” with an unchanged target price of 80 sen (23 cents).
The downgrade comes despite Top Glove’s results for the 1QFY2024 ended Nov 30 coming within the analyst’s expectations.
