BOC International: Maintains SUNNY OPTICAL "Buy" Rating, Target Price Raised to HKD 100
Bank of China International released a research report stating that it maintains a "Buy" rating for SUNNY OPTICAL, raising the 12-month target price from HKD 90 to HKD 100 based on a 24 times forecasted price-to-earnings ratio for 2026 (equivalent to a 1 times price-to-earnings growth rate). The bank has raised its earnings per share forecasts for SUNNY OPTICAL for 2025 and 2026 by 7% and 1% respectively, to reflect improvements in the smartphone and electric vehicle product mix. The bank noted that SUNNY OPTICAL's performance in the first half of 2025 exceeded expectations, primarily driven by a strong recovery in smartphone gross margins and continued growth in the electric vehicle and XR (extended reality) sectors. The company’s positive guidance for the full year of 2025 indicates that it is continuously increasing its market share in high-end smartphone lenses (HLS) and smartphone camera modules (HCM), while maintaining a leading position in vehicle lenses (VLS) and LiDAR. Management believes that, with the company's leading position in relevant fields, it will benefit in the long term from the development of XR, the Internet of Things, and robotics businesses
Zhitong Finance APP learned that BOC International released a research report maintaining a "Buy" rating on SUNNY OPTICAL (02382), raising the 12-month target price from HKD 90 to HKD 100 based on a 24 times forecasted price-to-earnings ratio for 2026 (equivalent to a 1 times earnings growth rate). The bank raised its earnings per share forecasts for SUNNY OPTICAL for 2025 and 2026 by 7% and 1% respectively, reflecting improvements in the smartphone and electric vehicle product mix.
The bank stated that SUNNY OPTICAL's performance in the first half of 2025 exceeded expectations, mainly driven by a strong recovery in smartphone gross margins and continued growth in the electric vehicle and XR (extended reality) sectors. The company's positive guidance for the full year of 2025 indicates that it is continuously increasing its market share in high-end smartphone lenses (HLS) and smartphone camera modules (HCM), while maintaining a leading position in vehicle lenses (VLS) and LiDAR. Management believes that with the company's leading position in related fields, it will benefit in the long term from the development of XR, the Internet of Things, and robotics businesses
