Foreign broker ups target price on Asustek shares

In a recent research note, CLSA said Asustek is expected to unveil a series of new 7-inch tablets at the end of this quarter that will be priced at between US$120 (NT$3,480) and US$300.

The brokerage said the relatively low pricing is expected to help Asustek penetrate the low-cost market, while the new products could boost the company's operating margin by 0.2 percentage points.

On the back of the expected strong buying of the new models, CLSA said it has raised its target price on Asustek shares to NT$390.00 (US$13.45) from the previous NT$365.00 and maintained a “buy” rating on the stock.

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