[ET Net News Agency, 12 October 2021] HSBC Global Research lowered its target price for
AAC (02018) to HK$41.6 from HK$52.4 and maintained its "buy" rating.
The research house said it cuts its 2021-23e net profit estimates by 20-24%, mainly to
factor in lower margin assumptions for the acoustic and optic businesses, as well as lower
assumptions for optics shipments. (RC)