Hon Hai Precision Industry Co Ltd
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Based in Taiwan, Province Of China
Company profile

Hon Hai Precision Industry Co Ltd is a Taiwan-based company mainly engaged in the provision of various connectors, housings, radiators, assembled products and related products related to the information industry, communication industry, automation equipment industry, optoelectronics industry, precision machinery industry, automotive industry, and consumer electronics industry, as well as the manufacture and sale of network cable assembly and other products. The Company's products include components, modules and system assembly products in the fields of computers, modules and consumer electronics (3C) electronic products. The components include 3C connectors, wire-mounted products and other components. The modules include mechanical modules and electronic modules. The system assembly products include assembly of finished products of 3C products. The Company operates businesses in domestic and overseas markets.

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UPDATE: Tesla, Nio shares get price-target hikes

12:39 pm ET January 11, 2021 (MarketWatch)

By Claudia Assis

Tesla Inc. stock and American depositary shares of Nio Inc. got price-target increases on Monday, with Wall Street emphasizing the electric-car makers' tech-company side.

B. of A. analysts raised their price target on Tesla (TSLA) stock to $900, from $500, praising Tesla's fourth-quarter sales (https://www.marketwatch.com/story/tesla-and-other-ev-makers-report-record-sales-sending-stocks-to-new-highs-11609781384)as "solid" and saying that the company's $5 billion stock offering in December (https://www.marketwatch.com/story/tesla-stock-drops-after-5-billion-stock-offering-plan-11607427217)reinforces their view that it "will utilize its stock to raise low-cost equity capital to fund accelerated growth."

"(Tesla) stock is driven by growth afforded by valuation," the analysts, led by John Murphy, said in a note.

"The higher the upward spiral of (Tesla's) stock goes, the cheaper capital becomes to fund growth, which is then rewarded by investors with a higher stock price. The inverse of this dynamic is also true, and it is this self-fulfilling framework that appears to explain the extreme moves in (Tesla) stock to the upside and downside," the analysts said.

Tesla shares took a breather on Monday following an unprecedented 11-day winning run in previous days. The stock is up 776% in the past 12 months, compared with gains around 17% for the S&P 500 index in the same period.

Nio ADRs rallied on Monday, trading as high as $66.89 earlier and up nearly 9% at last check. A close higher would be a second straight record high for Nio. (https://www.marketwatch.com/story/nio-bloom-energy-stocks-poised-for-record-closing-high-2021-01-08)

The company held a "Nio Day" on Saturday, unveiling a new luxury sedan, the ET7, and showcasing its technological advances. The ET7 and its autonomous driving capabilities will feature Nvidia Corp.'s (NVDA) "orin" chip, in a partnership also announced Saturday.

The "Nio Day" reveals led analysts at JPMorgan to increase their price target on the ADRs to $75, from $50, and "sustain our view that Nio will continue to trade more like a fast-growth technology/EV stock than a carmaker," the analysts said. They kept their rating on Nio's ADRs at their equivalent of buy.

Nio's ADRs have gained more than 1,700% in the past 12 months.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com


(END) Dow Jones Newswires

January 11, 2021 12:39 ET (17:39 GMT)

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