United Envirotech: +1.0% at $0.49, underpinned by China-based wastewater treatment firm's completion of mega underground plant in Guangzhou City. Rmb264m contract to set up plant, largest of its kind in China, secured in Nov last year, is expected to boost UE's earnings from FY10.
DMG has a Buy rating with $0.66 target; likes UE’s strong project execution and track record, sees company securing more similar-sized projects going forward...
Nevertheless, further upside may be capped by resistance at 52-wk high of $0.525 set last week.
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