[ET Net News Agency, 22 January 2021] Credit Suisse lifted its target price for Sunny
Optical (02382) to HK$273 from HK$213 and maintained its "outperform" rating.
The research house said the automotive camera market will likely decline 6% while Sunny
expects the automotive lens market to resume back to 15-20% CAGR in coming years, driven
by rising adoption/spec upgrade of ADAS (advanced driver assistance systems).
Credit Suisse estimated Sunny's share to increase to 35%/38%/40% in 2020/21/22
automotive camera market (sensing and view) from 29% in 2019. It raised handset lens
shipment forecasts to grow 14%/18%/11% in 2020/21/22 from 12%/20%/8%, thanks to iOS
contribution and better mix. (KL)