High Tech Computer Corp (HTC,
HTC shares rose 7 percent, the most since Dec. 19, to close at NT$538. The benchmark TAIEX advanced 1.01 percent.
The firm reported on Monday fourth-quarter net income climbed 34 percent year-on-year to NT$10 billion (US$308 million), beating the NT$8.69 billion average of 14 analyst estimates compiled by Bloomberg.
The company boosted earnings after introducing six models in the fourth quarter, including handsets with touch-screens that rival Apple Inc's iPhone. In November, the company started selling its Touch by HTC handset through Sprint Nextel Corp, the third-largest US wireless carrier.
"HTC's leading technology edge and increased brand awareness are helping the company stay ahead of the competition," Joey Cheng and Robert Chen, Taipei-based analysts at Goldman, Sachs & Co, wrote in a report yesterday.
Citigroup Global Markets also maintained a "buy" rating on HTC with a target price of NT$850, as "Recent share price weakness offers attractive entry point" into HTC's performance this year, according to an investment note released to its clients dated Monday.
For the first quarter of this year, Citigroup analysts Dale Gai (
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