[ET Net News Agency, 21 April 2020] Daiwa Research lowered its target price for AAC
Technologies (02018) to HK$39 from HK$45 and downgraded its "buy" rating to "hold" from
"outperform".
The research house said its recent research suggests the headwinds should last into 2H
with rising volume risks for both the iPhone and Android brands. Thus, Daiwa now sees the
turnaround of AAC as likely postponed to 2021.
In the near term, it sees limited positive catalysts and high uncertainty of an earnings
recovery; thus, it suggested that investors stay on the side-lines until better visibility
emerges.
Daiwa lowered its 2020-21 earnings forecasts by 17-27% on a more cautious revenue and
margin assumptions due to COVID-19. (KL)
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02018 AAC TECH
Nominal 
25.600 +1.050 (+4.277%) Research Report
21/04/2020 09:51
{I-bank focus}Daiwa lowers AAC Technologies (02018) to HK$39
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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