[ET Net News Agency, 11 November 2019] Morgan Stanley lifted its target price for AAC
Technologies Holdings (02018) to HK$49 from HK$40 and maintained its "equal-weight"
rating.
The research house thinks AAC's downward earnings estimate revisions have come to an
end, as the haptics market share loss is known to investors, and iPhone's stronger volume
helps.
Morgan thinks the impact of the haptics share loss will continue into 1H 2020, and
there's limited visibility on other products picking up. During the 3Q conference call,
management explained its product expansion strategy, but Morgan thinks execution bears
watching. (KL)