Based on DBS Group Research forecasts, Riverstone shares were trading at a forward price-to-earnings of 15.9 times for FY2020 and 15.3 times for FY2021 as at Wednesday's closing of S$1.05.
"We see value in Riverstone’s hard-to-replicate cleanroom business that sets it apart from its competitors. Glove makers are generally regarded as defensive and relatively more stable given their resilient demand," she added.
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