[ET Net News Agency, 16 October 2019] HSBC Qianhai Securities raised its target price
for AAC Technologies Holdings (02018) to HK$50.6 from HK$30.1 and maintained its "buy"
rating.
The research house said the sales performance of the new iPhones was better than
expected, and Apple intends to increase its new iPhone production by 10% for 2019. Looking
ahead, HSBC believes iPhone's potential upgrade to 5G in 2020 is likely to trigger another
wave of replacement cycle. It thus expects iPhone supply chain vendors like AAC will
benefit from the turnaround cycle ahead.
HSBC raised its 2019/20/21 net profit estimates by 1%/2%/3%, mainly due to a higher
revenue forecast on Android haptics. (KL)
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02018 AAC TECH
Nominal 
24.150 +0.050 (+0.207%) Others
16/10/2019 14:19
{I-bank focus}HSBC lifts AAC Technologies (02018) to HK$50.6
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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