Stock Name: Hi-P
Company Name: HI-P INTERNATIONAL LIMITED
Company Name: HI-P INTERNATIONAL LIMITED
| Research House: DMG | Price Call: BUY | Target Price: 0.79 |
DMG & Partners has upgraded Singapore’s Hi-P International (HIPI.SI), which makes electronics products for Apple (AAPL.O) and Blackberry maker Research In Motion (RIM.TO), to buy from neutral and raised its target price to $0.79 from $0.62.
DMG said Hi-P had experienced a slowdown in orders and margin compression as its largest customer RIM had reported a series of disappointing results. RIM had also announced a delay in the launch of its Blackberry 10 smartphone, DMG added.
However, moving forward, DMG expects Hi-P to receive more orders from Motorola and Apple, which would more than cover RIM’s slowdown.
However, moving forward, DMG expects Hi-P to receive more orders from Motorola and Apple, which would more than cover RIM’s slowdown.
At 10:42 a.m., Hi-P shares were up 3.2% at $0.64. The stock fell 41%last year.
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