| Zenon stock soars as analysts applaud filtration deal
Reuters(2001년 11월23일)
[TORONTO] With its stock in a near vertical ascent this month, Zenon Environmental Inc. climbed another 3 percent Friday, as analysts looked for the company to profit by expanding its role in the lucrative wastewater treatment business.
"We expect Zenon to continue to significantly outperform the index because its technology is being increasingly accepted and its technology is increasingly profitable," said Avi Dalfen, an analyst at Research Capital Corp.
Shares of Zenon, which makes membrane-based water purification systems, finished 60 Canadian cents higher at C$16.95, after earlier reaching another 52-week high of C$17.10 on the Toronto Stock Exchange.
The shares have basked in the glow of a stellar third-quarter this month and Thursday's announcement of an C$8 million deal to supply the largest municipal wastewater treatment plant of its kind in the world, using membrane filtration instead of conventional methods.
Zenon's shares are up 134 percent this year while the TSE 300 composite index has fallen 17 percent.
Dalfen said the company, with roughly 25 to 35 percent of world market share in micro-filtration and ultra-filtration methods, will continue to grow as it sees greater acceptance of its membrane filtration technology and sets its sights on the less-competitive sewage treatment market.
"It's significant because the challenge has not been competitive -- clearly they have the best product in this market -- it's getting the municipalities to switch from conventional treatment to membrane filtration," said Dalfen.
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