06 June 2018

AAC Tech (2018 HK)- reaching first TP

AAC Tech is having a good day today up 7% currently along with its peer, Sunny Optical, which is also up about 5%

No particular news, could be riding on the back of recent positive market actions in US, as well as recent Apple worldwide developer's conference highlighting updates to its AR platform, and Credit Suisse's report about smartphone demand to have bottomed out

Nonetheless after the surge, AAC is near our first TP of $131.2.
Investors may look to take some profit off, or leave a trailing stop. Our Next TP is $139.2- (17.4x FY19F PE, 12.7x EV/EBITDA) – 5 year +1SD.

Current consensus is $146.03