[ET Net News Agency, 26 August 2020] Goldman Sachs lowered its target price for Sunny
Optical (02382) to HK$81 from HK$120 and downgraded its rating to "sell" from "buy".
The research house said the downgrade was due to concerns on margins, pricing, volume,
competition, valuation, and high Street expectations (potential Apple business). Sunny's
competitors are aggressively expanding into camera lenses and modules, and Goldman has not
yet seen the peak of competitors' capacity expansion.
Against Goldman's expectations, ASP and GPM for Sunny's handset lenses declined in 1H.
In addition, Goldman saw a trend toward low spec lenses. It thus cut its EPS forecasts by
6%/22%/36% for 2020-22 mainly on lowering GM and raising opex ratio. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02382 SUNNY OPTICAL
Nominal 
37.100 0.000 (0.000%) Others
26/08/2020 10:00
{I-bank focus}Goldman lowers Sunny Optical (02382) to HK$81
| Remark: | Real time quote last updated: 17/04/2024 07:54 |
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