[ET Net News Agency, 14 September 2020] Credit Suisse lowered its target price for Q
Technology (01478) to HK$10.5 from HK$14.8 and downgraded its rating to "neutral" from
"outperform" on Huawei uncertainty and worse-than-expected fingerprint price erosion.
The research house trimmed its 2020-22 earnings forecasts by 2%/14%/10% due to lower
camera shipments and lower fingerprint shipments/ASP.
Credit Suisse said Q Tech has been working hard to improve share/mix at Xiaomi (01810)
and penetrate Samsung. But, other Huawei suppliers are doing the same to mitigate the
Huawei loss, and the visibility remains unclear as to when Q Tech can deliver a more
meaningful growth at Xiaomi/Samsung.
Credit Suisse also cut 2020-22 under-display fingerprint units forecasts by 10%/17%/15%
and ASP by 1%/11%/11% due to weaker adoptions and faster ASP erosion. (KL)
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01478 Q TECH
Nominal 
3.130 +0.010 (+0.321%) Research Report
14/09/2020 17:05
{I-bank focus}Credit Suisse lowers Q Tech (01478) to HK$10.5
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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