Stock Ugraded: Sino-Env Upgraded to Buy by DBS Vickers!

DBS Vickers says it has begun covering the stock of Sino-Environment, which specializes in making devices for the recovery and treatment of useful raw materials from industrial waste gas, with a "buy" rating and a one-year price target of 1.11 sgd per share. "This company is poised to benefit from the stricter environmental law enforcement and rising oil prices. Commanding a gross margin of 60 pct for each of their proprietary devices, Sino-Environment is doubling its capacity with its new plant to meet increasing demand," DBS said in a note. DBS said it expects Sino-Environment's net profit to rise 172 pct next year when the new plant becomes fully operational. At 10.03 am, Sino-Environment was up 0.055 sgd or 6.83 pct at 0.86, with 4.22 mln shares traded.