0147 GMT - Riverstone Holdings may benefit from a favorable macroeconomic backdrop, OCBC Investment Research's Donavan Tan says in a research report. The expanding electronics industry, driven by the rise of AI and its applications, is expected to boost demand for high-end cleanroom gloves, the analyst says. Also, the growing "China Plus One" trend, fueled by U.S. tariffs on China-made medical gloves, offers a substantial opportunity for Malaysian glove manufacturers like Riverstone, Tan adds. This trend refers to companies avoiding investing only in China and diversifying into other countries. OCBC initiates coverage of the stock with a buy rating and a fair value estimate of S$1.16. Shares are 1.0% higher at S$1.05. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 15, 2024 20:47 ET (01:47 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.