[ET Net News Agency, 11 January 2021] Nomura raised its target price for Sunny Optical
(02382) to HK$168 from HK$165 but downgraded its rating to "reduce" from "neutral".
The research house said Sunny's stock price rallied by 12% year-to-date versus the Hang
Seng Index's 2%, due to (1) investors' over-optimism on global new energy automotive
market demand thus they appear to be aggressively accumulating all automotive-related
supply chain names including Sunny; (2) the market's earlier expectation that Sunny is
likely to win Apple's handset lens order this year; (3) the Honor spin-off is positive for
Greater China optical supply chain names.
However, Nomura thinks the market expectations of Sunny are too high following the
rally, which could make the stock price less attractive to investors. Nomura believes
Sunny's iPad lens opportunity is more likely to materialize than the iPhone lens
opportunity. (KL)
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02382 SUNNY OPTICAL
Nominal 
35.500 +1.050 (+3.048%) Others
11/01/2021 13:49
{I-bank focus}Nomura raises Sunny Optical (02382) to HK$168
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