BIMB raises target for Top Glove stock to MYR 1.30 from MYR 0.75

Published on 10/19/2026 at 02:49 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BIMB raised its target for Top Glove stock to MYR 1.30 from MYR 0.75 on October 8, 2026. FY2026 profit reached MYR 307.96 million.

Analyst outlook and cash recovery

BIMB Research raised its target to MYR 1.30 from MYR 0.75 on October 8, 2026.
Top Glove reported MYR 307.96 million net profit and MYR 4.23 billion revenue for fiscal year 2026.
The company set a November 23, 2026 ex-date and December 15, 2026 payment date for its MYR 0.015 dividend.

Top Glove, MYL7113OO003, Illustration mit AI erstellt.

Top Glove (ISIN MYL7113OO003) reported fiscal year 2026 net profit of MYR 307.96 million, up from MYR 105.33 million a year earlier. On October 8, 2026, BIMB Research upgraded the stock to buy and raised its target to MYR 1.30 from MYR 0.75, according to The Star.

Three earnings signals since October

The recovery accelerated across three dated milestones. On October 6, 2026, Top Glove Corporation announced fiscal year 2026 revenue of MYR 4.20 billion, 21 percent above the prior year, and net profit of MYR 305.00 million. On October 7, 2026, PublicInvest Research lifted its target from MYR 0.59 to MYR 0.69 while retaining an underperform rating, as The Edge Malaysia reported. On October 8, 2026, BIMB delivered the latest upgrade with its MYR 1.30 target.

What does the upgrade imply?

The target gap reflects a divided recovery case. TA Research retained a sell rating with a MYR 0.75 target, while CIMB Research kept reduce and raised its target from MYR 0.63 to MYR 0.70, according to The Star. The counter-factor is cost pressure: natural gas tariffs were expected to lift costs per carton by 2 percent to 3 percent in October 2026, while global capacity exceeded 500 billion pieces against estimated demand of 400 billion pieces, The Edge Malaysia reported.

Dividend dates mark the next test

Top Glove declared a MYR 0.015 tax-exempt final dividend for fiscal year 2026. The ex-date is November 23, 2026, and payment is scheduled for December 15, 2026, according to Simply Wall St. The dividend is a concrete cash return, but investors are also weighing whether higher selling prices can persist after the exceptional fourth quarter.

Cash strength meets supply risk

Top Glove ended fiscal year 2026 with net cash of MYR 141 million, reversing net debt of MYR 267 million a year earlier. Its primary listing is on Bursa Malaysia, and the company also has a secondary Singapore listing, according to The Business Times. The stronger balance sheet supports the recovery thesis, while excess industry capacity remains the main restraint.