HanKore Environment price target raised to $1.27 by Maybank Kim Eng

Stock Name: HanKoreEnv
Company Name: HANKORE ENVIRONMENT TEC GRPLTD

Research House: Maybank Kim Eng

Price Call: BUY

Target Price: 1.27

SINGAPORE (Dec 5): Maybank Kim Eng has raised its price target for HanKore Environment Technology from $1.14 to $1.27, still pegged at 30 times earnings but based on FY2016 projections.

Its recommendation remains "buy".

"HanKore has rallied 20% in the past month but we believe it is still a stock to own for the next 12 months," Maybank Kim Eng analyst Wei Bin said in a note today.

The water treatment firm is expected to benefit from favourable government policies in China, he noted.