Sat Nov 23, 2019 06:59
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SUNNY OPTICAL target price raised to $142.3 by HSBC
22 Oct 2019
(Infocast News) HSBC Global Research raised its target price to HK$142.3 from HK$139.7 on Sunny Optical (02382), while reiterating Buy rating.

HSBC thinks the growing proliferation of 48MP/64MP as main cameras will likely keep driving the specs upgrade and know-how improvement for lens makers, "we expect 48MP lens demand in 2020 to reach 300m units."

For capacity, owing to the new plant in Ningbo, Sunny is able to increase its lens capacity to 150m units/month by end-2019. As Largan is likely to face capacity constraints in 2020, HSBC thinks Sunny is in a good shape to further gain market share, especially in the higher end market.

(WL)
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