HSBC Qianhai Securities lifted its target price for Sunny Optical (02382) to HK$142.3 from HK$139.7 and maintained its "buy" rating.
The research house said the growing proliferation of 48MP/64MP as main cameras, larger aperture, ultra-wide angle, as well as the potential adoption of hybrid lenses, etc., will likely keep driving the specs upgrade and know-how improvement for lens makers.
The blended selling price and margin remain healthy, with the latest margin guidance for handset lenses to reach 45%, being the high end of the guidance range. HSBC expects 48MP lens demand in 2020 to reach 300m units and this will likely continue to optimize Sunny's product mix.
HSBC fine-tuned its 2019-21 net profit estimates by -1.8%, -1.5% and -0.4% respectively, mainly due to margin revisions in camera modules.
全新節目《說說心理話》青少年不可以戀愛！？真實個案講述驚心動魄經歷► 即睇
