Sound Global: Nomura completed its mktg trip in Europe. Says investors were upbeat on the China water sector given strong govt policy support and an expected doubling in invmt in wastewater treatment (to Rmb 700b) and waste-to-energy during 2011-15F. Notes govt officials continue to study plans to raise water tariffs to Rmb 1.20/ton from the currently guided Rmb 0.80/ton…
While European investors are more familiar with the likes of Beijing Enterprises Water (371 HK) and China Everbright Int’l (257 HK), Nomura also notes this counter is closely watched by those looking for higher upside potential. Rates at Buy with HK$6.40 target (S$1.06).
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