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02018 AAC TECH
RTNominal down32.250 -1.250 (-3.731%)
Research Report

12/04/2021 11:24

{I-bank focus}Goldman Sachs raises AAC Tech (02018) to HK$58

[ET Net News Agency, 12 April 2021] Goldman Sachs raised its target price for AAC Tech
(02018) to HK$58 from HK$31 and upgraded its rating to "buy" from "sell".
The research house said for the near term (2021-23E), it raises the net income estimates
for 2021-23E by 6% / 25% / 17%, mainly due to higher revenues (higher handset lens
shipment given AAC's stronger-than-expected capacity expansion plan for 2021E and new
camera module business to support the market share gain; higher camera module ASP to
reflect the company's plan to bundle sales with its high-end lens), lower opex ratio
(improving operating efficiency and easing R&D burden along with higher revenue scale
driven by camera modules) and lower tax rate (near-term tax rate at a similar level as the
past 10 years). (RC)

Remark: Real time quote last updated: 06/12/2021 17:59
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