＜Research＞CCBI Elevates AAC TECH (02018.HK) TP to $38 on Positive Outlook

　　Positive developments across all segments of AAC TECH (02018.HK) -1.200 (-3.715%) Short selling $27.64M; Ratio 13.988% will drive its FY2024 sales and margin recovery to continue for the rest of the year, CCBI issued a research report saying. CCBI expected AAC TECH's 1HFY2024 operating revenue to grow by 24% YoY and 2% HoH.

　　The continued improvement in AAC TECH's prospects was mainly due to the rebound in the smartphone market, AI-driven opportunities from major US customers, improved utilization & ASP and favorable changes in product mix, according to CCBI.

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　　Based on the above factors, CCBI raised its FY2024-FY2026 profit forecasts for AAC TECH by 21%/ 15%/ 11% each, and elevated its target price from $26 to $38, with rating kept at Outperform.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-21 16:25.)

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