Stock Track | AAC Technologies Soars After Brokerage Upgrade Amid Optimism Over Earnings

Stock Track08-23

Shares of AAC Technologies Holdings Inc., a leading miniaturized components maker, surged as much as 7.2% on Thursday after CMB International Securities upgraded the stock to "buy" from "hold", citing optimism about improving profitability and business prospects.

CMB analysts lifted their price target on the Hong Kong-listed firm to HK$37.80, implying an upside potential of over 15% from Wednesday's close. The brokerage expects AAC's earnings to recover in the second half, driven by robust demand for its acoustic components and solutions from smartphone brands like Apple Inc. and Samsung Electronics Co.

Beyond the broker upgrade, the stock rally also reflected investors' confidence in AAC's ability to sustain its earnings momentum and increase market share, thanks to its focus on product innovation and continuous expansion into new technology areas. The company is expected to benefit from rising orders for its miniaturized acoustic components used in wireless headphones, smart wearables, and other internet-connected devices.

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