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Input: Hon Hai climbed NT$2  or 1.79 percent  to close at NT$113.5 on Wednesday.
 Wang also pointed out that Hon Hai's revenue this year is expected to rise 32 percent from last year -- benefiting from the growth of orders in flat panel TVs  iPads  iPhones and notebook computers.
Hon Hai "overweight" because its share prices have plunged about 20 percent in the past month.
 Wang also pointed out that Hon Hai's revenue this year is expected to rise 32 percent from last year -- benefiting from the growth of orders in flat panel TVs  iPads  iPhones and notebook computers.
 Wang cut the stock's target price from NT$179 to NT$170  however  saying the pay hikes are expected to increase Hon Hai's cost by NT$24 billion a year  which would reduce its operating profit by 20 percent.
 Calvin Huang  analyst at Daiwa Securities  was also worried that the increase in labor cost will hurt the company's ability to grab market shares. He maintained an "underperform" rating for Hon Hai.
 In addition  JPMorgan Chase cut Hon Hai's target price from NT$175 to NT$148  and Merrill Lynch decreased it from NT$190 to NT$159. But both brokerages kept their buy rating on the stock  according to media reports.
Hon Hai's target price from NT$175 to NT$148  and Merrill Lynch decreased it from NT$190 to NT$159. But both brokerages kept their buy rating on the stock  according to media reports.
 Meanwhile  Morgan Stanley expected Hon Hai to stage a rebound in the next two months and set a target price at NT$150  saying the worst was over after the company's share prices fell 20 percent in the past month  the reports said.
 The highest target price for Hon Hai -- NT$173 -- came from Credit Suisse  which reiterated its "outperform" rating for the stock  saying the impact from the pay hikes would be less than expected and the overall labor cost would become lower after the company hires more quality workers  a media report said.
Hon Hai's target price from NT$175 to NT$148  and Merrill Lynch decreased it from NT$190 to NT$159. But both brokerages kept their buy rating on the stock  according to media reports.

Most foreign brokerages maintain 'buy' on Hon Hai