Stock Name: Hyflux
Company Name: HYFLUX LTD
Research House: Kim Eng
The house expects the project to contribute to revenue mostly in 2012/2013. “The award is a testament to Hyflux’s expertise in this area, which should continue to spell opportunities globally for the group.”
Company Name: HYFLUX LTD
Research House: Kim Eng
Kim Eng upgrades Hyflux (600.SG) to Buy from Sell and raises its target price to $2.10 from $1.59. It says the total project value of the Tuas desalination plant, which Hyflux won Monday, of $890 million “will go a long way towards maintaining the company's orderbook visibility over the next 2-3 years.”
The house expects the project to contribute to revenue mostly in 2012/2013. “The award is a testament to Hyflux’s expertise in this area, which should continue to spell opportunities globally for the group.”
Kim eng raises its earnings estimates by 10%-15%. Shares are +11.5% at $2.04.
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