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Even Wall Street is left impressed with the HTC One

Two analysts recently raised their rating on the smartphone maker, citing high hopes for sales of the HTC One.

The HTC One. Sarah Tew/CNET

Will the HTC One be HTC's savior? Some Wall Street analysts are starting to come around to the idea.

HSBC upgraded the company's investment rating on Friday, citing the impressive flagship phone, according to MarketWatch. The ratings change comes after another firm, Daiwa, also raised its ratings and recommended buying the stock.

HTC has had a tough go at it recently, with sales and profits sinking with each successive quarter. On a marketing and distribution basis, Samsung and Apple have it completely outgunned, and its market share position remains anemic, not even breaching the top five smartphone vendors.

But the HTC One has garnered strong reviews and buzz with its all-metal design and revamped, love-it-or-hate-it Sense user interface. Even as the Samsung Galaxy S4 reviews emerge, a general consensus appears to be that HTC has the edge in hardware and design.

The two analysts seem to have a similar view of the HTC One, with Daiwa saying it believes the One will surprise people with its sales.

HTC has made significant progress simplifying its product lineup and expanding its distribution. Rather than a scatter shot approach with different phones and carrier partnerships, the company has essentially slimmed down its product to one core offering, available on as many carriers as possible. In the U.S., for example, the HTC One will be available on three of the four major carriers, with Verizon Wireless being the notable holdout.

The company stumbled a bit as supply constraints caused it to delay the HTC One launch -- an issue that is now affecting Samsung -- but that wait hasn't dampened demand for the device.

Whether the HTC One can hold its own against the Galaxy S4 and Samsung's marketing juggernaut remains to be seen, but it at least some early fans.

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