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Riverstone
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RIVERSTONE HOLDINGS LIMITED
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Longtermer
Elite |
11-May-2020 13:53
Yells: "A disciplined investor is a wealthy investor" |
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Likely this week i think ..
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furnaces
Veteran |
11-May-2020 13:50
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Earnings result coming? | ||||
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Longtermer
Elite |
11-May-2020 13:50
Yells: "A disciplined investor is a wealthy investor" |
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I think UOB start covering Riverstone and issued a BUY call. Riverstone and UG are glove manufacturers based in Malaysia and have little updates over the years. Their PE are trading substantially lower than Malaysian listed companies although they are selling the same stuffs. DYODD. Recent pandemic brought them into limelight and ppl are seeing good value. Both are profit making and give out dividends. The higher US dollars and lower oil prices should benefit these companies. With the Covid19 induced demands, the ASP will be much higher as well. Expected very good results this year onward.. Cheers. -------------------------------- INITIATE COVERAGE Riverstone Holdings (RSTON SP) BUY | Price/Tgt: S$1.21/S$1.46 | Mkt Cap: S$896.7m Beneficiary Of Industry Tailwinds From COVID-19 A leading global supplier of high-tech nitrile cleanroom gloves, Riverstone has a dominant share of the hard disk drive market. It also manufactures customised nitrile healthcare gloves. With consistent capacity expansion, Riverstone is set to benefit from favourable industry tailwinds from the COVID-19 pandemic and growing middle-income affluence. Given its attractive 48% discount to its peers& rsquo FY20 PE, we initiate coverage with BUY and a PE-based target price of S$1.46. · Global leader in nitrile cleanroom glove market. Riverstone Holdings (Riverstone) specialises in the production of nitrile cleanroom gloves, capturing a 60% global share of the hard disk drive market. As the production of cleanroom gloves requires high levels of technical capabilities, Riverstone& rsquo s customised nitrile cleanroom gloves command ASPs that are 2.5-3.0x higher than that of nitrile healthcare gloves. Riverstone& rsquo s cleanroom segment has been growing at double digits annually. With the company& rsquo s proven track record, we believe this trend will continue with Riverstone securing more orders. · Capacity expansion to drive revenue and profits. Riverstone has a newly-completed glove factory under phase 6 of its expansion plans, boosting production capacity to 10.4b pieces/year by 1H20. Current utilisation rates stand at 90-95%. Management has purchased land for phase 7-9 of its expansion plans. Phase 7 and 8 are expected to commence in 2020 and 2021 respectively, adding 1.4b pieces/year each and increasing total capacity by 46.7% by 2022. In view of the higher capacity and favourable tailwinds, we reckon the commissioning of these new production lines would help boost Riverstone& rsquo s earnings. · Changing demographic and macroeconomic trends to lift nitrile healthcare gloves demand. Besides the ongoing COVID-19 pandemic, ageing populations, rising middle-income affluence and greater health awareness have contributed strongly to an increase in demand for healthcare gloves. Developing countries such as China and India have low glove usage per capita, implying huge potential in these countries. As Southeast Asia contributes almost a third of Riverstone& rsquo s revenue, the company stands to benefit from the rising living standards in these highly-populated developing countries. · Initiate coverage with BUY and PE-based target price of S$1.46, pegged at 22x 2020F PE, a 38% discount to the sector& rsquo s 35.2x 2020F PE. The discount is based on Riverstone& rsquo s 5-year average historical PE discount vs the top 3 glovemakers& rsquo . The stock is currently trading at 18.2x 2020F PE. We think this is unjustified as Riverstone has higher EBITDA margins, ROE and dividend yield than peers, and comparable to that of industry leader Hartalega. Click on the link for details. https://research.uobkayhian.com/content_download.jsp?id=56559& h=65bfcef588bc2037bf4cbc685e7138c0 |
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98mich98
Master |
11-May-2020 12:38
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Tonight annoucement? Price surge so much. Must be news coming tonight | ||||
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Longtermer
Elite |
11-May-2020 11:48
Yells: "A disciplined investor is a wealthy investor" |
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Wow, Riverstone now catching up 13.3% .. UG next soon. Medical related companies no brainers. Hold longer for at least 2 qtrs! Cheers |
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JY0064
Senior |
11-May-2020 09:23
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Mid Week. Staying vested.
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Longtermer
Elite |
11-May-2020 09:15
Yells: "A disciplined investor is a wealthy investor" |
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Riverstone and UG not moving up with Medtecs and Top Glove as yet. Results will be very good like Medtecs this year and next.. Expect a profit spike and hit past high in 2016.. |
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newb1234
Member |
11-May-2020 09:10
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This company PE looks more reasonable than other med stocks. vested. | ||||
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Sgvale
Supreme |
11-May-2020 09:02
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Sold. 35% profit
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n3wbie
Elite |
10-May-2020 22:39
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Sorry when' s the briefing?
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JY0064
Senior |
10-May-2020 20:43
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I wish for sgd0.50/share price appreciation after the mid-of-the-week biz briefing by the CEO. Crossed.
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n3wbie
Elite |
10-May-2020 20:39
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Think last high was $1.30, let' s hope it breaks that to hit new highs
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lovetoshare
Elite |
10-May-2020 16:03
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Riverstone break own high....might go higher. | ||||
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Superkilat
Elite |
05-May-2020 14:22
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Another lovely news from WHO for longists https://www.cnbc.com/2020/05/04/remdesivir-coronavirus-treatment-who-to-talk-with-us-on-making-drug-available.html | ||||
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Superkilat
Elite |
05-May-2020 14:02
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A lovely news for longists https://www.channelnewsasia.com/news/world/israel-isolates-covid-19-coronavirus-antibody-breakthrough-12702590 | ||||
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Sgvale
Supreme |
01-May-2020 20:58
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Boss said his automated machineries are running as fast as could to meet market demand. Unless his machineries now breakdown, you won't see below $1 | ||||
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aniki19
Member |
01-May-2020 17:43
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90Cents | ||||
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shadow11
Veteran |
01-May-2020 17:36
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114
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yoyo$$
Member |
01-May-2020 17:21
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wat is the good entry price ? | ||||
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Sgvale
Supreme |
06-Apr-2020 09:25
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Stabilising these few days. Chiong any time. Sell US, they are desperate in need | ||||
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