Stock Name: Hyflux
Company Name: HYFLUX LTD
Company Name: HYFLUX LTD
| Research House: Kim Eng | Price Call: BUY | Target Price: 2.37 |
Kim Eng Securities has raised its target price for Singapore’s wastewater treatment firm Hyflux (HYFL.SI) to $2.37 from $2.25 and maintained its buy rating.
Kim Eng has increased its earnings estimates for Hyflux in 2011 and 2012 by 6-10% as it expects its $890 million plant in Singapore, Tuas SingSpring, to start contributing to its earnings this year.
Hyflux’s ultra-filtration membrane, Kristal, is currently the top seller in the world and is used in about 40% of water desalination globally, Kim Eng said.
Kim Eng has increased its earnings estimates for Hyflux in 2011 and 2012 by 6-10% as it expects its $890 million plant in Singapore, Tuas SingSpring, to start contributing to its earnings this year.
Hyflux’s ultra-filtration membrane, Kristal, is currently the top seller in the world and is used in about 40% of water desalination globally, Kim Eng said.
The brokerage also added that Hyflux is taking steps to achieve new technological developments and applications in order to combat becoming obsolete and other lower-cost producers.
At 9:48 a.m., Hyflux shares were unchanged at $2.09 but have fallen 9.91% since the start of the year.
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