not vested
Sunny Optical (2382 HK)
2019 To Be A Fruitful Year For New Camera Products
Despite the tough smartphone market, Sunny is likely to achieve its 2018 shipment volume target.
Unlike other smaller peers, Sunny’s HCM business would only experience mild margin pressure in 1H18.
From 2019 onwards, new products such as triple cameras and 3D sensing modules would be Sunny’s key growth drivers.
As such, we revise up our profit forecasts for 2019-20.
We raise our target price to HK$157.25, based on 33x 2018F PE. Maintain HOLD. Entry price HK$138.60.
Source: UOBKH
https://research.uobkayhian.com/content ... 1fd89eb79a