Stock Name: Hyflux
Company Name: HYFLUX LTD
Research House: IIFL
“The key concerns is unavoidable delay in the two mega desalination projects in Libya and uncertainty on new desalination contract wins in the high margin Middle East and North African region,” said IIFL in a report.
Company Name: HYFLUX LTD
Research House: IIFL
Indian securities firm IIFL has downgraded Singapore wastewater treatment firm Hyflux (HYFL.SI) to sell from buy and cut its target price to $1.60 from $2.85.
IIFL cut its 2011 earnings estimate for Hyflux by 12% and its 2012 estimate by 28% to account for the potential loss in revenue from the firm’s projects in Libya.
IIFL cut its 2011 earnings estimate for Hyflux by 12% and its 2012 estimate by 28% to account for the potential loss in revenue from the firm’s projects in Libya.
“The key concerns is unavoidable delay in the two mega desalination projects in Libya and uncertainty on new desalination contract wins in the high margin Middle East and North African region,” said IIFL in a report.
Shares of Hyflux fell 1.5% at 9:29 a.m. and have fallen 15.5% since the start of the year.
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