Stock Name: UtdEnvirotech
Company Name: UNITED ENVIROTECH LTD
Research House: OCBC
Company Name: UNITED ENVIROTECH LTD
Research House: OCBC
OCBC Investment Research lifts United Envirotech (U19.SG) target price to $0.63 from $0.52 to factor in higher free cashflow growth rate as some of China-based wastewater treatment firm's newly-completed projects start contributing from October. Keeps Buy call, says Dow Jones.
OCBC expects more projects to come following recent win of RMB200 million ($39.5 million) contract to build treatment plant in Neijiang Xi Industrial Park in Sichuan province: "We view the latest development as a further endorsement of the company's market leading position in industrial MBR (membrane bio reactor) technology as well as the optimistic prospects for the wastewater industry in China."
Shares off 2.1% at $0.465.
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