Think Environmental: won an EPC contract from Thailand’s Phichit AgriPower to build a 9.9MW multi-fuel based power plant worth ~$23.2m. The project is expected to commence in 2Q11 and scheduled for completion by 1Q13. Aggregate EPC orderbook now stands at $60m, vs FY09 revenue of $72m…
Recent news flow has been positive, which resulted in the counter’s 72% surge in share price since Nov ’10. Still, we note that the stock remains a concept play. Big differences in views amongst the Street; Sias has a Buy rating with $0.83 target, while DMG has a Sell rating with $0.14 target.
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