Hi-P

Hi-P: DBSV yday reiterated Buy with $1.43 TP. Believes Hi-P is a proxy to the iPad and the explosive growth of the entire tablet market.
We note also that Hon Hai (Apple’s key EMS provider) managed to renegotiate a better price with Apple on the iPad2. If Hi-P also manages to secure better pricing, margins could surprise on the upside.