HK-listed shares of AAC Tech at 6-month high, Jefferies raises PT

Byd Electronic (International)

05/11/2019 04:46

** Shares of acoustic components maker AAC Technologies
Holdings Inc  2018.HK , a supplier of Apple Inc  AAPL.O , rise
as much as 3.5% to HK$53.3, their highest since April 29
    ** Brokerage Jefferies raises AAC's price target to HK$48
from HK$40, saying the share price was supported by positive
sentiment on iPhones and adoption of haptics technology - which
enables users to receive tactile sensations from an interface in
Android 
    ** Jefferies says AAC will mainly benefit from iPhone's
volume expansion in 2020, driven by the 5G launch 
    ** By Monday's close, AAC stock up 13.3% this year 
    ** AAC has outperformed the Hang Seng Commerce & Industry
Index sector  .HSNC  by 20.3 percentage points in the past month
    ** Apple's other suppliers also gain, with BYD Electronic
International  0285.HK  climbing as much as 2.9% to HK$14.56,
the highest since May 3
    ** Sunny Optical Technology  2382.HK  increases 3% to
HK$136.50, its highest since July 2018 
    ** The Hong Kong Hang Seng sub-index, tracking information
technology firms  .HSCIIT , climbs up to 1.1%, while the
benchmark index gains 0.5%
    

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)