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02018 AAC TECH
RTNominal up29.500 +1.100 (+3.873%)
Research Report

17/11/2020 11:52

Guotai Junan cuts AAC Technologies (02018) to HK$46.5

[ET Net News Agency, 17 November 2020] Guotai Junan lowered its target price for AAC
Technologies Holdings (02018) to HK$46.5 from HK$52 and maintained its "neutral" rating.
The research house said AAC Tech's 3Q results were lower than its expectation, with net
profit decreasing by 38.1%, mainly due to the decline in both revenue and gross profit
margin.
Guotai Junan revised down its FY2020-22 EPS forecasts by 12.9%/5.6%/2.5%, respectively.
Given the strong market demand for the Apple iPhone 12, it expects iPhone shipments to
grow in 4Q, so do AAC's product shipments. (KL)

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