Piper Jaffray is out reiterating an Overweight rating on Tri-Tech Holding (TRIT) this morning.  Hat tip to Street Insider for the analyst comment.

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“We expect management’s tone to remain upbeat regarding the outlook as China embarks on significant water infrastructure expansion. TRIT’s proprietary products & services position the company well to capitalize on this large market opportunity. We do not anticipate significant changes to our FY10 & FY11 sales and EPS estimates, and believe the shares are undervalued relative U.S.-listed water equipment & services stocks.”

Shares of TRIT are currently down about 3% in early trading and trying to hang in there around the 50 day moving average.