UPDATE: Topeka Capital Markets Initiates Nam Tai Electronics at Buy on Device Ramp-Up
Topeka Capital Markets initiated Nam Tai Electronics (NYSE: NTE) with a Buy rating and a $20.00 price target.
Topeka Capital Markets noted, "We are initiating coverage of Nam Tai Electronics with a Buy rating and a 12-month price target of $20.00. Based in China, Nam Tai Electronics is a specialty component solution provider with a focus on mobile Internet devices such as smartphones and tablets. We believe the ramp that Nam Tai began in 2012 still has momentum and if the Company is able to win new smartphone, tablet and Ultrabook programs, we believe there could be healthy upside to our projections."
Nam Tai Electronics closed at $13.97 on Friday.
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