HTC Falls as Top-Ranked Analyst Sees Continued Nightmare
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The top-ranked analyst covering HTC Corp. is predicting the company’s “nightmare” is poised to get even worse after the smartphone maker slashed its sales forecast, triggering the stock’s biggest two-day drop in three years.
Sinopac Financial Holdings Co. analyst Calvin Huang in February suggested investors take profit on the stock amid poor reviews of the M9 smartphone that was yet to be introduced at the time. Shares of HTC fell their daily limit on the two trading days since the Taoyuan, Taiwan-based company cut its sales projection as much as 35 percent and announced a writedown that makes turning a profit this year almost impossible.