HUBCO
FAIR VALUE FOR HUBCO IS 34.75
WE RECOMMEND TO ACCUMULATE HUBCO ON THE BASIS OF FOLLOWING FACTS:
225 MW EXPANSION DUE BY FR2010
OTHER PROJECTS ARE ALSO IN PIPELINE
LOW-LEVERAGED BALANCE SHEET
STRONG DPS GROTH
ONLY RISK FOR HUBCO IS LIQUIDITY CRUNCH EMANATING FROM WAPDA PAYAMENT DELAYS.
IJAZ
Monday, June 23, 2008
HUBCO FAIR VALUE 34.75
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