Tat Hong (T03.SG) +1.6% at $0.95, just off two-month high of $0.965 set in intraday trade, as crane company’s plan to buy out rest of 70%-owned Australian unit Tutt Bryant Group (TBG.AU) suggests operating conditions Down Under picking up, according to Dow Jones.

“The acquisition seems to signal that Tat Hong’s Australia-led recovery is still in play,” says CIMB, which has Outperform call with $1.24 target. Tat Hong will offer A$0.92/share in cash for unit, or total of A$39 million ($47.2 million), to be funded by internal resources, bank loans.

DBS Vickers, which has Buy call with $1.11, tips 8.0% boost to Tat Hong’s FY11-FY12 earnings post-deal: “TBG is expected to turnaround this year with the recovery of equipment sales and crane rental market as well as commencement of deferred rental projects.”

Orderbook quotes suggest minimal upside beyond session high of $0.965.