By: Jeffery Wu and Frances Huang
Taipei, Jan. 13 (CNA) Foreign brokerages remain mixed about the prospects of Taiwan-based Largan Precision Co., a smartphone camera lens supplier to Apple Inc., despite the manufacturer posting strong earnings for the fourth quarter of last year.
Five foreign brokerages have issued their own target prices on Largan shares, ranging from NT$3,361 (US$114) to NT$5,450, while giving “buy,” “neutral” or “sell” recommendations on the stock.
On Friday, Largan shares staged a strong technical rebound from a recent slump, up 10 percent, the maximum daily increase, to close at NT$4,100 on the Taiwan Stock Exchange, where the weighted index ended up 0.68 percent at 10,883.96 points.
The significant upturn came after Largan reported on Thursday that its net profit for the fourth quarter hit a new high of NT$8.61 billion, up 10.8 percent from the third quarter, with earnings per share (EPS) of NT$64.18, also a record high. [FULL STORY]