Singapore Stock Market News
Hyflux - New wins needed
StockFanatic
Publish date: Fri, 08 Nov 2013, 10:54 AM
StockFanatic
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HYF's 9M13 core net profit beat
expectations, forming 114% of our
FY13 estimate. We raise EPS by 20%
in FY13 but lower by 6-12% in
FY14-15 to reflect our new cost and
achievable order-win assumptions.
Our SOP-based target price is
reduced to S$1.18. Our Neutral call is
intact as a higher project win rate is
needed for HYF's share price to
re-rate.
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