[ET Net News Agency, 18 May 2020] Nomura lowered its target price for AAC Technologies
(02018) to HK$39.3 from HK$46 and downgraded its rating to "reduce" from "neutral", given
the growing risks from iPhone demand and Huawei.
The research house said AAC derives only 15% revenue from Huawei, but Nomura thinks
Huawei is an important strategic customer in the Android camp for AAC in terms of
generating sales/earnings growth in 2019-21 to help offset the structural pressure from
Apple business.
Hence, Nomura thinks the escalating ban on Huawei by the US could pose a threat to AAC's
growth outlook for the next 6-12 months. Thus, Nomura cut its 2020/21 earnings forecasts
by 25%/19%. (KL)
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02018 AAC TECH
Nominal 
24.550 +0.400 (+1.656%) Research Report
18/05/2020 14:57
{I-bank focus}Nomura cuts AAC Tech (02018) to HK$39.3
| Remark: | Real time quote last updated: 25/04/2024 14:38 |
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