[ET Net News Agency, 18 May 2020] Daiwa Research raised its target price for AAC
Technologies (02018) to HK$43 from HK$39 and maintained its "hold" rating.
The research house said AAC's 1Q results were weak. Management reiterated its positive
stance on the optics business and margin uptrend, which echoes Daiwa's view that the worst
is over for AAC.
However, due to the rising demand risks amid COVID-19, Daiwa sees a high uncertainty for
AAC's earnings recovery in 2020 before a likely turnaround in 2021.
Due to rising volume risks in iPhones, Nomura forecast AAC's gross margin to recover to
29.7-29.9% in 2H from the trough in 1Q but will remain flat YoY compared with a low base
in 2019 and below 37-42% in 2017-18. (KL)
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02018 AAC TECH
Nominal 
29.500 +1.100 (+3.873%) Research Report
18/05/2020 15:36
{I-bank focus}Daiwa raises AAC Technologies (02018) to HK$43
| Remark: | Real time quote last updated: 23/09/2024 17:59 |
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