HTC shares go up amid strong Desire 816 pre-orders

The newly-announced HTC Desire 816 has went on pre-order in China and it appears interest is pretty high. So high, in fact that it sent HTC's shares have up by 3.91%.

The device saw around 450 thousand orders in the first three days of the campaign alone and that figure is expected to rise to half a million shortly. Marketed as a mid-range flagship, the phablet has obviously been exactly what the doctor prescribed to the ailing company.

As of 11:17 AM today HTC's shares have gone up to NT$146 ($4.82). Deutsche Bank increased the target price of HTC's shares from NT$85 to NT$155. The bank is the fist foreign brokerage to revise its recommended target price of HTC shares upwards.

HTC's aim for this quarter is to generate between NT$34 billion and NT$36 billion, down from Q4 of 2013's NT$42.9 billion. However, the drop was mostly in January and February when HTC revenues amounted to around NT$16.9 billion and things should improve drastically in March, hopefully marking the start of a turnaround in the company's fortunes.

Another boost to HTC shares could be the announcement of the All New One smartphone on March 25.

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