[ET Net News Agency, 3 January 2020] Daiwa Research lifted its target price for Sunny
Optical Technology (02382) to HK$163 from HK$150 and maintained its "buy" rating.
The research house views Sunny as a major beneficiary of the intact multi-cam trend and
ongoing specs upgrade in smartphones and expects it to deliver strong earnings growth in
2020-21 on these favourable trends.
Daiwa forecast triple-cam adopted smartphone shipments to grow to 562-798m in 2020-21
from 323m in 2019, with the total multi-cam penetration rate reaching 78-86% in 2020-21
from 33-64% in 2018-19. It raised its 2020-21 EPS forecasts by 3% on more optimistic
margin assumptions. (KL)