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<Research>Jefferies: SUNNY OPTICAL Seems Oversold, But Need Solid Evidence of GPM Recovery
Recommend 20 Positive 30 Negative 13 |
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Jefferies issued a research report concerning about the sustainability of SUNNY OPTICAL (02382.HK)'s share price recovery momentum, amid a lack of clarity on the pace of gross profit margin (GPM) recovery. Jefferies believed that the stock's rebound on 25-26 March came from bottom fishing and short covering, with a projected PE ratio of less than 20x at the time. Jefferies believed that there are a number of factors to monitor in the next 2 months to re-evaluate its view on SUNNY OPTICAL, being the demand for high-end handsets, especially Huawei's Pura series, the overall handset sales performance during the 618 shopping festival, and SUNNY OPTICAL's delivery performance. Jefferies currently rated SUNNY OPTICAL at Hold, with a target price of $43. AAStocks Financial News |
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