DBS has just upgraded this counter to a buy:
Shares of Hyflux have fallen 20% m-o-m and currently trade at –1SD of 17x FY10 earnings, which is seen as an attractive entry level. Near term catalysts for the stock are potential contract win from Singapore’s 2nd desalination plant, new wins from MENA and China as well as the conclusion of the SGD1-1.4 bil Libyan contracts in H2 that provides visibility up to 201.
Hyflux is unaffected by developments in Europe and US and has little exposure in China.
Our research analyst upgrades the stock to Buy from Hold TO: $3.50 DBS
ML's take:
technically looks like a breakout this morning to me. Target is $3.20 with a stop at $2.80.
This blog is a selections of my investment views to my client. If you find it useful or have additional information to share, please do let me know. These blogs are my personal views and is not meant to solicit any sales or investment on any securities or investment. I may have vested interest in some of the counters or investment products, hence please invest at your own risk. As usual invest in what you understand and do your own homework. ML is a licensed stockbroker with one of Asia Leading Stock Broker firm. To contact him, please email: icewolfmike@gmail.com
No comments:
Post a Comment