[ET Net News Agency, 23 July 2020] CICC Research doubled its target price for AAC
Technologies (02018) to HK$70 and upgraded its rating to "outperform" from "neutral".
The research house expects AAC to report solid 2Q results, driven by a rise in Apple
orders and improvement in the optics business after a disappointing 1Q.
CICC thinks Xiaomi and Oppo's strategic investments in AAC's optics subsidiary is proof
of this technology's quality and opens the door for ACC to unlock its enterprise value in
the long term. (KL)