14 Sep, 2018
not vested
<Research Report>Daiwa Downgrades AAC TECH (02018.HK) to Hold with TP Cut to $85
Daiwa issued a research report covering AAC TECH (02018.HK), stating that functions of the new iPhone models are in-line with projections but the selling prices of iPhone XS and XS Max had been set at too high a level and therefore it lowered iPhone's sales forecast for the second half of 2018 to 80 million handsets.
iPhone's sales performance may negatively affect AAC TECH's profit levels for 2H18 and 2019 ad AAC TECH is a major supplier for iPhone, the bank said.
AAC TECH is downgraded to Hold from Buy with target price lowered to $85 from $110.
Source: AAStocks Financial News