Daiwa: Raises SUNNY OPTICAL target price to HKD 85, product mix improvement drives growth
Daiwa released a research report stating that SUNNY OPTICAL's performance in the first half of 2025 is stable. Although the shipment volume did not meet expectations, it benefited from the continuous improvement of the product mix. The firm expects SUNNY OPTICAL's smartphone sales year-on-year growth rate to further increase in the second half of 2025. Daiwa reiterated SUNNY OPTICAL's "outperform the market" rating and raised the 12-month target price from HKD 72 to HKD 85. Daiwa stated that based on the continuous improvement of the product mix, the average selling price and gross margin of SUNNY OPTICAL's smartphone lenses (HLS) and smartphone camera modules (HCM) will increase, raising SUNNY OPTICAL's earnings per share forecast for 2025 to 2027 by 12% to 15%
According to the Zhitong Finance APP, Daiwa released a research report stating that SUNNY OPTICAL (02382) will have stable performance in the first half of 2025. Although shipment volumes did not meet expectations, the continuous improvement of the product mix is beneficial. The firm expects the year-on-year growth rate of SUNNY's smartphone sales to further increase in the second half of 2025. Daiwa reiterated SUNNY's "Outperform" rating and raised the 12-month target price from HKD 72 to HKD 85. Daiwa stated that based on the continuous improvement of the product mix, the average selling price and gross margin of SUNNY's smartphone lenses (HLS) and smartphone camera modules (HCM) will increase, leading to a 12% to 15% upward revision of SUNNY's earnings per share forecast for 2025 to 2027
