Top Glove stock: BIMB raises target after FY2026 rebound
Published on 11/02/2026 at 01:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSEarnings recovery draws higher targets
- Top Glove entered FY2027 with a stronger earnings base after a sharp FY2026 rebound.
- BIMB switched its valuation approach to forward earnings as supply and demand conditions improved.
- Raw-material costs, labor availability and global competition remain key risks for the recovery.
Top Glove stock remains in focus after BIMB Securities upgraded the shares to Buy and raised its target price to MYR 1.30 from MYR 0.75. The move followed Top Glove Corporation Bhd's FY2026 results for the year ended August 31, 2026, which showed a sharp recovery in profitability.
The Malaysian Reserve reported that net profit rose 192 percent year on year to MYR 307.96 million, while revenue increased 21 percent to MYR 4.23 billion. The group attributed the improvement to stronger global glove demand relative to supply, which helped manufacturers rebuild margins.
Analysts reassess the recovery
BIMB changed its valuation method from price-to-book value to price-to-earnings and applied a 25-times multiple to its FY2027 earnings forecast. The research house said Top Glove was entering the new financial year from a structurally stronger earnings base and healthier supply-demand conditions.
The company still faces a demanding operating backdrop. Raw-material price volatility, higher energy costs, labor shortages and intense competition could limit the pace of further margin improvement. The recovery therefore depends on whether demand growth continues to absorb excess industry capacity and supports pricing.
Top Glove's business and market position
Top Glove Corporation Bhd is a Malaysian manufacturer of rubber gloves for healthcare, industrial and food-service customers. Its broad product offering and global customer base place it among the largest producers in the international glove industry. The company competes in a market where scale, product quality, manufacturing efficiency and cost control shape relative performance.
Top Glove Corporation at a glance
- Company: Top Glove Corporation Bhd
- ISIN: MYL7113OO003
- Fiscal period: FY2026 ended August 31, 2026
- Business: Rubber glove manufacturing for healthcare, industrial and food-service markets
Investors can follow broader market developments through current market reports.
More news and analysis on Top Glove stock is available on the Top Glove stock topic page.
