High tide for Hyflux?

Hyflux shares have risen nearly 50% this year. Some analysts are starting to suffer from vertigo.

It has been a hectic six months for Hyflux, with new JVs, bids and deal announcements from China to the Middle East, super-optimistic forecasts and sky high stock prices, with the Hyflux share price hitting a fresh 52-week high of S$3.98 on 1 June.

Following the signing of the latest Hyflux growth promise (a US$420 million water treatment project in Harbin, China), Westcomb Financial upgraded...

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