SINGAPORE (Aug 10): RHB is maintaining its "buy" call on China Everbright Water (CEW) but lowering its target price to 80 cents from 82 cents.
CEW management says it is confident of securing another 1 million tonnes of daily design capacity through new project wins and acquisitions in the second half.
"We expect this to boost earnings in the second half, pulling up the weaker 1H16 results," says analyst Juliana Cai in a Tuesday report.
But Cai thinks CEW is likely to get larger-scale public-private-partnership (PPP) projects going forward.
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