New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Equity Bottom-Up

Fonterra Shareholders Fund / Equity Bottom-Up

<ul><li>We initiate our coverage on STGT with an Outperform rating and a 2025E fair value (FV) of Bt14.69, based on a required return of 3.29%.</li><li>Our valuation metrics suggest that the current stock price presents a buying opportunity, supported by strong earnings growth, while the tactical parameters are neutral.</li><li>STGT is a global player in the medical glove industry, benefiting from regulatory changes in major markets such as the US and EU, positioning itself favorably against competitors in Malaysia and China. </li></ul>

We initiate our coverage on STGT with an Outperform rating and a 2025E fair value (FV) of Bt14.69, based on a required return of 3.29%.Our valuation metrics suggest that the current stock price presents a buying opportunity, supported by strong earnings growth, while the tactical parameters are neutral.STGT is a global player in the medical glove industry, benefiting from regulatory changes in major markets such as the US and EU, positioning itself favorably against competitors in Malaysia and China. 

Fonterra - Benefiting from Regulatory Changes in US, Brazil, and EU