[ET Net News Agency, 14 October 2020] HSBC Qianhai Securities raised its target price
for Sunny Optical (02382) to HK$150.2 from HK$126.6 and upgraded its rating to "buy" from
"hold".
The research house said Sunny reported that handset lens and module shipments rose 16%
and 22% to 167.5m and 59m units in September, resulting in 9-month shipment growth
reaching 18% and 20%, well above its full-year guidance of 10% for both products.
Despite a slowdown in orders from Huawei, Sunny is benefiting from a pick-up in orders
at other Android customers, such as Samsung (mainly lenses), Xiaomi, Oppo, and Vivo, HSBC
noted. It raised its 2020/21/22 net profit forecasts by 3%/1%/1%, which leads to a net
profit CAGR of 20% in 2019-21, versus 19% previously. (KL)
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02382 SUNNY OPTICAL
Nominal 
33.550 -2.200 (-6.154%) Research Report
14/10/2020 15:16
{I-bank focus}HSBC lifts Sunny Optical (02382) to HK$150.2
| Remark: | Real time quote last updated: 24/04/2024 09:31 |
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