Riverstone, led by executive chairman Wong Teek Soon, expects 10% q-o-q volume growth in 3QFY25, supported by stronger demand from the semiconductor and AI-driven data-storage industries.
Heidi Mo of UOB Kay Hian, citing end demand from AI-related activities, has raised her target price for rubber glove maker Riverstone Holdings from 71 cents to 98 cents.
The cleanroom segment, according to Mo in her Oct 8 note, remains the Malaysia-based company's key earnings driver, contributing around 40% of revenue but nearly 70% of gross profit.
