[ET Net News Agency, 18 March 2020] Goldman Sachs lowered its target price for Sunny
Optical (02382) to HK$130 from HK$150 and maintained its "buy" rating.
The research house cut its EPS forecasts by 20%/23% for 2020/2021, the company's
guidance of handset lens shipment growth for 2020 (+10%), is largely in line with our
assumption of +13% YoY.
Goldman thus raised the camera module shipment assumption, leading to a lower blended GM
(gross margin). Net-net, it cut its EPS forecasts by 6%/2% for 2020/21. Goldman expects
the cycle to continue to drive smartphone supply chain, while Sunny Optical continues
pixel mix upgrade in handset lens with GM expansion. (KL)
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02382 SUNNY OPTICAL
Nominal 
38.150 +2.650 (+7.465%) Research Report
18/03/2020 14:28
{I-bank focus}Goldman lowers Sunny Optical (02382) to HK$130
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