[ET Net News Agency, 13 November 2017] HSBC Global Research raised its target price for
AAC Technologies (02018) to HK$210 from HK$153, and maintained its "buy" rating.
The research house said AAC's 3Q results are in line. The company maintained its
positive outlook and guided for 2018 top line to grow by no less than 25% YoY. 2017 capex
was raised to RMB5.3bn, 2018 capex is expected to be at similar levels to 2017.
HSBC said AAC's shipment/capacity outlook suggests that its shipments could potentially
reach 30-40% of Sunny's by 2018 and growth could further propel on the substantial ASP
growth (USD1+ to USD2+) from rising hybrid lens penetration.
HSBC forecast lens contribution to reach 2%/7%/12% in 2017-19 and thinks AAC's market
share gains will add additional pressure on current lens players. It revised its 2017-19
earnings estimates by -2%/4%/0%. (KL)
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02018 AAC TECH
Nominal 
24.750 -0.350 (-1.394%) Others
13/11/2017 18:01
[I-bank focus]HSBC raises AAC Technologies (02018) to HK$210
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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