Credit Suisse upgrades Hi-P International (H17.SG) to Neutral from Underperform, lifts target price to $0.75 from $0.40 after increasing FY10-FY12 earnings estimates by 14%-31%, says Dow Jones.

“We turn more optimistic on Hi-P's earnings outlook, as we expect further smartphone market share gains by Research In Motion,” says Credit Suisse.

Research house notes, contract electronics maker's 2Q10 net profit at $12.4 million vs $14.2 million loss in 1Q10 on faster-than-expected ramp-up of new programmes, sharply higher margins. Shares flat at $0.815.