SINGAPORE (Nov 9): RHB is keeping SIIC Environment Holdings at “buy” with a lower target price of $1.13, from $1.26 previously, on the strength of recent acquisitions.
“SIIC continues to journey up the ladder to be an industry leader,” says RHB analyst Juliana Cai in a Wednesday report.
“We believe its recent acquisitions of Longjiang Group and Ranhill Water could be instrumental in enabling it to gain a stronger foothold in north-eastern China, and break into the industrial wastewater market,” Cai adds.
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