---
title: "Stock Analysis: Top Glove | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280141235.md"
description: "Top Glove recommends holding, with a target price of MYR 0.60 (approximately SGD 0.20), and a closing price of SGD 0.17 (-2.81%). The core profit for the first quarter of the fiscal year 2026 was MYR 27.4 million, with revenue of MYR 1.05 billion, which is below expectations. The core profit for the first half of the year was MYR 60 million, accounting for only 31% of the full-year forecast. Due to the Middle East war driving up raw material prices, management has raised the price of nitrile gloves by USD 7 to USD 24 per thousand. It is expected that glove sales in the second half of the fiscal year 2026 will remain at 4.5 to 4.6 billion units per month, with annual sales expected to grow by at least 30% year-on-year"
datetime: "2026-03-23T10:22:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280141235.md)
  - [en](https://longbridge.com/en/news/280141235.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280141235.md)
generator: "portal-rs"
---

# Stock Analysis: Top Glove | Lianhe Zaobao

### Top Glove

-   Recommendation: Hold
-   Target Price: 0.60 MYR (approximately 0.20 SGD)
-   Closing Price: 0.17 SGD (-2.81%)

Top Glove reported a core profit of 27.4 million MYR (approximately 8.89 million SGD) for the second quarter of the fiscal year 2026, with revenue of 1.05 billion MYR, which is below expectations. The core profit for the first half of the year was 60 million MYR, accounting for only 31% of our full-year forecast.

Following the Middle East conflict that drove up natural gas and chemical product prices, we assess that the prices of natural latex and acrylonitrile have increased by 5% to 10% and 90% to 100%, respectively.

Management has raised the average selling price of nitrile gloves shipped in April by 7 USD to approximately 24 USD per thousand pieces, offsetting the impact of rising raw material prices.

#### Further Reading

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At the same time, management also estimates that glove sales in the second half of fiscal year 2026 will maintain a level of 4.5 billion to 4.6 billion pieces per month, which will bring total annual sales to 52 billion to 56 billion pieces, a year-on-year increase of at least 30%.

Given the increasingly fierce competition in the industry, we remain cautious about the glove sector. We assign a "Hold" rating with a target price of 0.60 MYR. (UOB Kay Hian)

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**