AAC Technologies 2018

Re: AAC Technologies 2018

Postby winston » Thu Jun 08, 2017 1:06 pm

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<Research Report>BofAML Reinstates AAC TECH (02018.HK) to Underperform with Target Price $70

Bank of America Merrill Lynch, in its report, reinstated the rating of AAC TECH (02018.HK) to Underperform with target price of $70, equivalent to 14x 2017-18 P/E (estimate).

The broker's 2017/18 EPS forecast are 3%/14% below consensus, due to margin risks related to competitive pressure and capital-intensity as the company responds to new entrants in two key product lines.

The broker's cautious view on the stock is predicated on concerns about AAC's fundamental business and valuation, rather than any allegations contained in third-party research.

Bank of America Merrill Lynch said in face of rivalry, AAC's share in acoustics and haptics could drop to 30-35% in 2018/19, from the current about 50% in both markets, and impact margins and profits.

Significant capex spent on Radio Frequency mechanical in 2015-16 implies higher capital-intensity and margin volatility for AAC.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Mon Jun 12, 2017 11:45 am

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AAC TECH Gets CITIC BANK's Credit & Financing Line At Least RMB10B

AAC TECH (02018.HK) announced that the company entered into a strategic cooperation agreement with CITIC BANK (00998.HK) (601998.SH) (Nanjing Branch).

CITIC Bank agreed to provide to the group with a comprehensive credit and financing line of not less than RMB10 billion.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Thu Jun 15, 2017 9:22 am

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AAC TECH (02018.HK) Gets RMB10B Comprehensive Credit & Financing Line from Ping An Bank

AAC TECH (02018.HK) announced that on 14 June, the company entered into a strategic cooperation agreement with Ping An Bank.

Ping An Bank agrees to provide to the group a comprehensive credit and financing line of RMB10 billion, subject to compliance with the relevant laws, regulations and internal credit guidelines and approval conditions of Ping An Bank.

The term of the agreement is one year from the date of the agreement.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Wed Oct 18, 2017 2:45 pm

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<Stock on Move>AAC TECH Sees Widened Fall to 4.9%, Once Bottoming at $138

Apple Inc. continued higher 0.4% and once hit US$160.87 last night. However, related concept stocks in Hong Kong generally subdued today.

AAC TECH (02018.HK) saw selling from profit-taking today and plunged up to 5.7% after midday to bottom at $138, defending at 10MA ($137.4).

It last stood at $139.3, down 4.9%, on volume of 3.86 million shares, being the hardest hit among blue chips.

In addition, SUNNY OPTICAL (02382.HK) wilt for three straight days and sank below 50MA ($116.6) today, hitting the trough at $112.1. It last traded at $113.7, showing a continuous decline of 3%, on increasing volume to 14.32 million shares.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Wed Dec 13, 2017 2:15 pm

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<Research Report>G Sachs Lifts AAC TECH (02018.HK) Target to $97; Rated Neutral

Goldman Sachs, in its report, lifted the target price on AAC TECH (02018.HK) to $97 from $93 with rating maintained at Neutral to reflect the uncertainty about AAC TECH's profitability in the new optics business and growth of other product lines currently anticipated by the street.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Wed Dec 13, 2017 2:50 pm

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Dec 7, 2017

<Research Report>C Suisse: 1H18 Mainland Mobile Supply Chain May Face Greater Challenges; Opportunities in 2H

Credit Suisse, in its report, expected Chinese smartphone supply chain may encounter challenges in 1H18 but the sector may embrace new opportunities in 2H due to the next wave of upgrade trend.

3D sensing, glass casing, wireless, laser and AMOLED will be the major upbeat areas for next year.

Top pick of the broker was AAC TECH (02018.HK) and Luxshare (002475.SZ).

The investment rating of AAC TECH was reiterated at Outperform with a target price of $214.5.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Wed Dec 13, 2017 2:52 pm

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Nov 29, 2017

<Research Report>JPM Lifts AAC TECH (02018.HK) Target to $180; Kept Neutral

JPMorgan said latest survey revealed that AAC TECH (02018.HK) will highly likely supply lenses for iPhone's 3D sensing emitter modules next year, and thus raising the 2018E and 2019E earnings forecast by 5% and 9%.

The research house also raised the target price until December 2018 to $180 from $130 with rating maintained at Neutral.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Wed Dec 13, 2017 3:15 pm

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Nov 16, 2017

<Research Report>UBS Downgrades AAC TECH (02018.HK) to Neutral with Target Lifted to $190

UBS, in its report, downgraded AAC TECH (02018.HK) from Buy to Neutral with target price lifted from $158 to $190.

The broker said the current price has fully reflected the 2018 positive outlook and the potential of Wafer Level Glass (WLG), but the market adoption may be slower than expected.

UBS lowered the company's 2017 EPS forecast by 3% to reflect the client new model launch delay and weak Chinese smartphone demand.

However, UBS raised the EPS forecast for 2018 and 2019 both by 9% to reflect the design upgrade.

The broker also raised the P/E target from 22x to 25x for 2017, and expected the 2017 earnings growth to speed up to 47% yearly.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Tue Jan 16, 2018 2:36 pm

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Jan 15, 2018

<Research Report>Citi Cuts iPhone Shipment Forecast; Trims AAC TECH (02018.HK) Target to $180

Citigroup, in its report, lowered the forecast for 1Q18 shipment of iPhone to 61 million units from 65 million units.

Citigroup maintained Buy on AAC TECH (02018.HK) with target price cut to $180 from $208.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Tue Jan 16, 2018 2:42 pm

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Jan 3, 2018

<Research Report>M Stanley: AAC TECH 2018 Top Pick; Expects Acoustics, Haptics Tech to Lead Growth

Morgan Stanley, in its report, reiterated Overweight on AAC TECH (02018.HK) and named it as one of the top picks this year.

The broker believed that its acoustics and haptics technology can support core earnings into 2018.

Optical business can also provide potential impetus for earnings, which in turn lead to market re-rating.

Morgan Stanley slightly lowered the target price of AAC TECH to $188 from $190 and 2018E and 2019E EPS by 2% to RMB6.35 and RMB7.63 due to the fact that smartphones inventory in China needs digestion.

Source: AAStocks Financial News
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