vested
M Stanley Downgrades SUNNY OPTICAL (02382.HK) to Equalweight; TP Cut to $120
Morgan Stanley said in its report that SUNNY OPTICAL (02382.HK)'s interim operating profit missed its estimate by 9% mainly due to CCM GPM of only 9.4%, lower than 9.9% in expectations, while net profit also came in 20% below its estimate under one-time RMB201 million forex loss.
SUNNY OPTICAL was downgraded from Overweight to Equalweight at the target price $120, cut from $190.
Source: AAstocks.com