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<Research>BofAS Upgrades AAC TECH (02018.HK) to Neutral, Elevates TP to $33
Recommend 10 Positive 9 Negative 10 |
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BofA Securities released a research report upgrading AAC TECH (02018.HK) to Neutral from Underperform, on the back of a rebound in AAC TECH's results. BofA Securities also raised its 2024-2026 earnings forecasts by 32-44% to reflect improved optical gross profit, and elevated its target price to $33 from $14. BofA Securities believed that the stock's current valuation, which is close to its historical average after a rebound in June, has reflected recent positives, and that catalysts such as iPhone microphone high-wind upgrade and heat dissipation will be unlikely to drive further re-rating. AAStocks Financial News |
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