Recent news flow appears less supportive for Hartalega's outlook, Hong Leong IB analyst Chee Kok Siang says in a note. The glove industry's outlook may remain dependent on clearer evidence of a sustained and full reopening of the Strait of Hormuz, which President Trump said could occur as early as Friday, he says. Market sentiment may weaken if shipping routes normalize, shifting concerns from industry consolidation back to oversupply risks. Chee cuts Hartalega's FY 2027 earnings estimates by 11%, as nitrile butadiene rubber prices have dropped faster than expected. Hong Leong cuts Hartalega's target price to 1.07 ringgit from 1.22 ringgit and maintains a hold rating. Shares are unchanged at 1.11 ringgit. (yingxian.wong@wsj.com)
Sentiment on Hartalega Could Weaken on Hormuz Reopening — Market Talk
Earlier from Hartalega Holdings Bhd
- Glove Makers May See Near-Term Gain From Hantavirus Worries — Market Talk
- Hartalega's Margins Set to Benefit From Higher Glove Prices — Market Talk
- Hartalega's 1Q Sales May Increase Sequentially — Market Talk
- Hartalega Holdings Posts Q4 Revenue 515.4 Million RGT