Foreign brokerage keeps ‘hold’ recommendation on Hon Hai

Taiwan News
Date: 2016-06-23
By: Central News Agency

Taipei, June 23 (CNA) A European brokerage on Thursday maintained its “hold” recommendation on shares of Taiwan-based Hon Hai Precision Industry Co., saying that the company may book heavy losses due to its acquisition of Sharp Corp. of Japan.

In a research note, the brokerage said it was cautious about the movement of Hon Hai shares also because growth of the company’s smartphone and PC operations was likely to slow down.

Therefore, the brokerage said, it was keeping its “hold” recommendation on Hon Hai shares and its target price of NT$74 (US$2.30).

Under Taiwan’s regulations, the names of foreign brokerages cannot be reported when they give price forecasts for specific stocks.     [FULL  STORY]

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