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Research Report

25/02/2020 15:32

{I-bank focus}BofA lowers Sunny Optical (02382) to HK$135

[ET Net News Agency, 25 February 2020] BofA Global Research lowered its target price
for Sunny Optical Technology (02382) to HK$135 from HK$150 and downgraded its rating to
"neutral" from "buy" to reflect the balanced risk-reward.
The research house cut its 2020/21 EPS forecasts by 8%/3% to reflect the softer 1H 2020
business outlook on Wuhan coronavirus (COVID-19) impact. With 60% sales exposure in China
smartphone market, Sunny is expected to see a rising risk to street's 40% EPS growth
trajectory in 2020.
But BofA said Sunny's long term prospects in smartphone & auto optics and margin uptrend
remain intact. (KL)

Remark: Real time quote last updated: 02/04/2020 17:59
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