UPDATE: Brean Murray Carret Raises PT to $9 on Tri-Tech
Brean Murray Carret reiterates its Buy rating on Tri-Tech (NASDAQ: TRIT) and raises its price target to $9 from $6 on rising momentum driven by recent contract wins.
Brean Murray Carret says, "We are raising our forward estimates and target price on the shares of Tri-Tech Holding. Our positive bias is driven by the size and frequency of recent contract wins. We also note that the stigma surrounding U.S.-listed China-based companies has eased, allowing for multiple expansion."
TRIT closed at $6.74 a share yesterday.
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