Piper Jaffray is initiating coverage on Tri-Tech Holding (TRIT) this morning with an Overweight rating and a price target of $20 which is about 50% higher than where it is now. “Recent project wins and favorable government policies around municipal wastewater treatment provide very good visibility in 2010 and the company’s recent capital raise provides the financial strength to grow the top-line aggressively through 2011.”
Shares of TRIT are up about 5% in premarket trading. … Read the rest
Eurotech Holdings (CLWT) is surging today on news its subsidiary Shanghai Euro Tech Environmental was awarded a $3.2 million wastewater contract from petrochemical industrial park. CLWT will design, install and commission a 5K cubic meter/day water treatment system. The CEO didn’t comment on the deal, but did say the company is beginning to recover from the global financial crisis and sees more contracts in 2010. This particular contract represents 50 – 60% of one quarter … Read the rest
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