Duoyuan Global (DGW) Shares Spike Mid-Day as Piper Upgrades to Overweight
More News related to DGW
- Piper Jaffray Reiterates an 'Overweight' on Duoyuan Global Water (DGW), Price Target and Estimates Increased
- Duoyuan Global Water Inc. Reports Third Quarter 2009 Financial Results
- Trading Radar for 11/09: Dish Network (DISH), Rockwell (ROK), Priceline.com (PCLN), MBIA (MBI), Ticketmaster (TKTM) Report
- Duoyuan Global Water Inc. to Report Third Quarter 2009 Financial Results
- Oppenheimer Initiates Coverage Duoyuan Global Water (DGW) with a Perform
Mid-day, Piper Jaffray has upgraded shares of Douyuan Global Water (NYSE: DGW) from Neutral to Overweight with a $35 price target.
The firm believes that the stock's recent pullback (down 18% since the beginning of August) has created a buying opportunity. Talking with private water treatment and services companies in China, Piper has confirmed that stimulus spending should drive strong growth within the water infrastructure segment during 2009 and 2010. Checks have also indicated that increased interest in water treatment projects in China during the back half of this year could mean better-than-expected sales growth for Douyuan.
Shares have jumped since the upgrade: the stock is now up about 7% after trading up only about 3% prior to the analyst call.
Related Categories
UpgradesStocks Mentioned
+0.12Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
