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02018 AAC TECH
RTNominal up64.550 +2.250 (+3.612%)

20/11/2019 17:04

{I-bank focus}UOBKH raises AAC Technologies (02018) to HK$46

[ET Net News Agency, 20 November 2019] UOB Kay Hian raised its target price for AAC
Technologies Holdings (02018) to HK$46 and maintained its "sell" rating.
Following the commercial launch of 5G services in China at end-October, industry
participants have set ambitious growth plans for 5G handset terminals, reflecting optimism
on the end-demand for 5G smartphones in 2020, the research house said.
After incorporating the latest industry forecast, UOBKH raised its global 5G smartphone
shipment volume projection by 71% to 240m units for 2020.
UOBKH raised AAC's profit forecasts by 3% and 2% for 2020 and 2021 respectively mainly
to reflect the slightly higher shipment volume of AAC's all product segments. Unlike Sunny
(02382) and Q Tech (01478), UOBKH said AAC would benefit less from the component content
upgrade per smartphone in the 5G era.
It attributed the recent share price rally to market high expectations on its optical
business ramp-up. UOBKH believes it is too early to turn bullish on AAC's optical
business. (KL)

Remark: Real time quote last updated: 22/01/2020 17:59
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