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Riverstone has fallen 24% since 26 Jan 16! (22 Feb 16)
By Ernest Lim's investing blog  •  February 22, 2016
Dear all, Riverstone has fallen 24% since 26 Jan 16 to trade around $0.950 due in part to the following factors:
  1. a) Weakening of USD against MYR;
  2. b) Specific sell off in the Malaysian glove makers;
  3. c) Overall weak market sentiment;
At the time of writing this, Riverstone is trading +0.015 to 0.950. Day range is $0.935 – 0.955. According to Bloomberg, its valuations remain attractive around 15x FY16F PE vis-a-vis its Malaysian counterparts of around 18x FY16F PE. Based on historical performance, Riverstone’s past quarters have been typically beating analysts’ expectations. 4Q results should be out on 24 Feb, Wed evening, or 25 Feb Thurs before market opens. Please see Figure 1 below for Riverstone’s average analyst target prices which ranges from $1.08 – 1.41. Figure 1: Average analyst target prices Source: Bloomberg as at 22 Feb 16 Chart analysis Based ......
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By Ernest Lim's investing blog
I am an avid investor, trader cum remisier. I am a Chartered Financial Analyst® charterholder, as well as, a Chartered Accountant of Singapore. I have published articles on a wide range of topics on finance and investment, ranging from market / sector outlook, technical analysis and fundamental analysis etc.
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