Stock Name: Hyflux
Company Name: HYFLUX LTD
Research House: UBS
The house says it doubles its EPS forecast for 2012 to $0.08, and ups its 2013 forecast by 43% to $0.10; it adds the project “will further cement its reputation as the builder of large desalination plants in the world thereby enhancing future prospects,” helping Hyflux compete effectively with more established large global players.
UBS notes the stock has fallen 21% this year over unrest in the Middle East and that 60% of its 2010 revenue comes from this region. “This desalination win should help ease investors’ concerns about earning prospects over the next three years.”
Company Name: HYFLUX LTD
Research House: UBS
UBS upgrades Hyflux (600.SG) to Buy from Neutral and raises its target price to $2.40 from $2.25, citing the water services company’s winning bid to build Singapore’s second desalination plant.
The house says it doubles its EPS forecast for 2012 to $0.08, and ups its 2013 forecast by 43% to $0.10; it adds the project “will further cement its reputation as the builder of large desalination plants in the world thereby enhancing future prospects,” helping Hyflux compete effectively with more established large global players.
UBS notes the stock has fallen 21% this year over unrest in the Middle East and that 60% of its 2010 revenue comes from this region. “This desalination win should help ease investors’ concerns about earning prospects over the next three years.”
The stock is up 10.9% at $2.03.
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