Consumer Notebooks Unlikely to Recover This Year, Citigroup Says
March 28, 2011, 11:54 PM EDTBy Richard Frost
March 29 (Bloomberg) -- Consumer notebooks are “unlikely” to “stage a big comeback” in the second half of this year, given continuing “strong demand” for smartphones and tablet PCs, Citigroup Inc. said.
The brokerage cut its price estimates for the following companies in the report by analysts led by Kevin Chang and dated yesterday: Acer Inc. to NT$49 from NT$60; Asustek Computer Inc. to NT$230 from NT$245; Compal Electronics Inc. to NT$34 from NT$39; Quanta Computer Inc. to NT$48 from NT$53; and Pegatron Corp. to NT$30 from NT$35. Citigroup maintained its “sell” rating on the five companies.
Citigroup also lowered its rating on Chicony Electronics Co. to ‘hold’ from ’buy’ and reduced its price estimate to NT$55 from NT$78.
To contact the editor responsible for this story: Richard Frost at rfrost4@bloomberg.net
