＜Research＞BofAS Hikes SUNNY OPTICAL (02382.HK) TP to $70; Profit Alert Beats

　　SUNNY OPTICAL (02382.HK) -2.050 (-4.249%) Short selling $266.90M; Ratio 21.960% announced a positive profit alert, expecting net profit for the six months ending June 2024 to soar 140%-150% YoY to RMB1.05-1.09 billion. BofA Securities said in a report that Sunny's profit alert reaffirmed the market expectation of a turnaround.

　　The broker expected Sunny to ride on deeper penetration of larger sensor adoption from high-end to mid-end models, more periscope projects, and content value increase with in-house VCM supply. These factors will continue to help Sunny strengthen its product portfolio and drive margin expansion from 2H24 to 2025.

　　Related NewsUBS: SUNNY OPTICAL Positive Profit Report Beats, Positive Shr Price Reaction Expected

　　BofA Securities raised its profit forecast for Sunny from 2024 to 2026 by 2%-15%, and lifted its TP from $67 to $70, reiterating its Buy rating.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-22 12:25.)

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