Share this
Digg
Del.icio.us
StumbleUpon
Netscape
Yahoo
Technorati
Googlize this
Facebook
Export PDF
Print
E-mail
Shares of Singapore electronics contract manufacturer Hi-P International (HIPI.SI) rose 15.4% to a record high today after it forecast higher revenue and profit this year.
Hi-P shares were traded at $1.01 at 10:30 a.m., with over 5.6 million changing hands.
Hi-P shares were traded at $1.01 at 10:30 a.m., with over 5.6 million changing hands.
Hi-P raised its full-year guidance due to improved productivity and better cost controls, it said in a late Tuesday statement.
DBS Vickers, which has a "buy" rating on Hi-P, said the contract manufacturer has now raised its guidance for a third time in three months.
The broker upped its earnings forecast for Hi-P by 11% for 2010 and 10% for 2011, and increased the target price to $1.26 from $0.94.
