＜Research＞BofAS Upgrades AAC TECH (02018.HK) to Neutral, Elevates TP to $33

　　BofA Securities released a research report upgrading AAC TECH (02018.HK) -0.300 (-0.987%) Short selling $111.15M; Ratio 27.629% to Neutral from Underperform, on the back of a rebound in AAC TECH's results. BofA Securities also raised its 2024-2026 earnings forecasts by 32-44% to reflect improved optical gross profit, and elevated its target price to $33 from $14.

　　BofA Securities believed that the stock's current valuation, which is close to its historical average after a rebound in June, has reflected recent positives, and that catalysts such as iPhone microphone high-wind upgrade and heat dissipation will be unlikely to drive further re-rating.

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

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