Semiconductor Industry Recovery Will Benefit Cleanroom Glove Segment
Riverstone’s cleanroom gloves, which contribute about 80% of earnings, are expected to see a recovery in demand, driven by new clients onboarded in the preceding year and improvement in the semiconductor industry in 2024. On the healthcare gloves front, sustained product customisation efforts with new production lines are yielding results, as seen from increased demand for higher-margin customised healthcare gloves. We upgrade Riverstone to BUY with a 22% higher target price of S$0.82.