Company Name: HYFLUX LTD
Research House: OCBC
OCBC Investment Research has raised its target price for Singapore water firm Hyflux (HYFL.SI) to $2.70 from $2.44 and kept its “buy” rating.
OCBC has raised its 2011 revenue and earnings estimates for Hyflux by 3 and 6.7% respectively, as it expects the firm to secure more contracts in China.
“We think that Hyflux remains well positioned to win more water and wastewater treatment contracts in China, given its superior water treatment technology and good execution track record,” OCBC said in a report.
The brokerage noted that Hyflux intends to focus efforts on winning more deals in the Middle East as well, another region expected to suffer chronic water shortages.
Hyflux shares have risen 0.55% since the start of last year to close at $2.38 on Wednesday.
No comments:
Post a Comment