Title Advanced Ceramic X (3152 TT) Buy, TP: NT$360
  Micro-Star International (2377 TT) Buy, TP: NT$97
  Makalot (1477 TT) Buy TP: NT$192
  Chlitina (4137 TT), Buy, TP: NT$284
  Fubon FHC (2881 TT), Buy, TP: NT$52
  BizLink (3665 TT), Buy, TP: NT$270
  Ennoconn (6414 TT) Buy, TP: NT$260
  Chailease Holding (5871 TT), Neutral
  Grape King (1707 TT), Buy, TP: NT$219
  Catcher (2474 TT) Neutral
 
More Titles
Title:Largan (3008 TT) Buy, Raise TP to NT$5,475
Download File:3008 TT Largan note 191016--sinopac.pdf 
 
Summary:Raise TP by 2.3% to NT$5,475 (22x 2020F P/E); Maintain Buy: Our primary investment thesis is that camera lens upgrading will boost Larganí»s OPM and thus its share price over time. As large aperture and multi-element lens camera design will proliferate following introduction of VR applications into 5G handsets, we project lens count of handsets launched will grow from 6 elements to 7 elements for new handsets in 2H20. In addition, we expect demand for time of flight (ToF) cameras to increase. We have increased our 2020F EPS estimate by ~6% from NT$233.38 to NT$248.95 and our TP by ~2% from NT$5,350 to NT$5,475.
  
Date:2019/10/16
Author:TaiwanResearch.com
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