HSBC Global Research was more optimistic about SUNNY OPTICAL (02382.HK) -1.300 (-2.640%) Short selling $145.10M; Ratio 22.440% 's optical business gross profit margin in FY2024, and raised its FY2024/ FY2025 smartphone lens gross profit margin forecasts by 5 ppts/ 3.1 ppts to 23.4%/ 24.4%, HSBC Global Research issued a research report saying.
HSBC Global Research also lifted its FY2024/ FY2025 camera module gross profit margin forecasts by 0.8 ppts/ 0.4 ppts to 6%/ 7.3%. Given the low base in 1HFY2023, HSBC Global Research believed that the extent of SUNNY OPTICAL's recovery should be closely monitored.
Related NewsCLSA: SUNNY OPTICAL Slightly Adds 2024 Global Smartphone Sales Forecast, Expands Edge AI Product Lineup
Summarizing the above factors, HSBC Global Research raised its target price on SUNNY OPTICAL from $41.4 to $45.3, with rating kept at Hold.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-21 16:25.)
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