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02018 AAC TECH
RTNominal up29.200 +1.050 (+3.730%)
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14/09/2018 10:14

[I-bank focus]Daiwa lowers AAC Technologies (02018) to HK$85

[ET Net News Agency, 14 September 2018] Daiwa lowered its target price for AAC
Technologies (02018) to HK$85 from HK$110, and downgraded its rating to "hold" from "buy".
Due to the disappointing pricing strategy (as opposed to Daiwa's expectation of more
affordable pricing) for the new iPhones (iPhone XS/XS Max), the research house lowered its
new iPhone production forecast in 2H, which should negatively impact AAC's earnings
outlook in 2H 2018-2019 due to its position as a major supplier.
Daiwa remains positive on AAC due to its long-term spec upgrade trend, but said that
AAC's share price could have limited upside due to the street's likely coming downward
earnings revisions.
Daiwa cut its 2018-20 EPS forecasts by 2-8% on more conservative revenue and margin
assumptions. (KL)

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