[ET Net News Agency, 28 August 2020] Morgan Stanley lowered its target price for Q
Technology (01478) to HK$11 from HK$14.5 and downgraded its rating to "equal-weight" from
"overweight".
The research house estimated Huawei to be 20% of Q-Tech's revenue as of 1H. Q-Tech's
largest clients are OPPO and VIvo; Morgan believes certain losses at Huawei will be offset
by these two clients though it noted Q-Tech has limited Xiaomi and Samsung exposure.
Morgan lowered its earnings estimates for 2020-22 by 5%, 10% and 8%, mainly to reflect
slower revenue growth from the CCM (compact camera modules) business as a result of the
Huawei decline, especially in 2021 and beyond. (KL)
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01478 Q TECH
Nominal 
3.260 -0.070 (-2.102%) Research Report
28/08/2020 18:01
{I-bank focus}Morgan lowers Q Technology (01478) to HK$11
| Remark: | Real time quote last updated: 25/04/2024 17:06 |
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