Stock Name: Hyflux
Company Name: HYFLUX LTD
Research House: Kim Eng
“This major contract has significantly improved Hyflux’s orderbook visibility for the next three years,” Kim Eng said in a report.
Company Name: HYFLUX LTD
Research House: Kim Eng
Kim Eng Securities has upgraded Singapore’s wastewater treatment firm Hyflux (HYFL.SI) to buy from sell and raised its target price to $2.10 from $1.59.
Hyflux was named the preferred bidder for a desalination project in Singapore worth a total of $890 million.
Hyflux was named the preferred bidder for a desalination project in Singapore worth a total of $890 million.
“This major contract has significantly improved Hyflux’s orderbook visibility for the next three years,” Kim Eng said in a report.
The brokerage said it expects the plant to start contributing revenue to Hyflux in 2012.
At 9:38 a.m., Hyflux shares were 13.7% higher at $2.08 but have fallen 10.3% since the start of the year.
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