JPMorgan Optimistic on AAC TECH's New AI Initiative as Future Growth Driver, Keeps "Overweight" Rating

Stock News03-20

JPMorgan has released a research report expressing a positive outlook on AAC TECH's (02018) prospects through 2026, driven by solid growth in its thermal management and automotive businesses. The firm continues to favor the company due to its business diversification, which includes expansion into the thermal market and the recent acquisition of an advanced AI hardware project from a major US cloud service provider (CSP). If demand increases by 2027, this project is expected to serve as the next major catalyst. In light of the new contributions from the CSP project, JPMorgan has slightly raised its revenue forecast for 2027. The firm has set a target price of HK$65 and maintains an "Overweight" rating on the stock.

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