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<Research>BofAS Trims LENS (06613.HK) TP to $24 on ST Pressure but LT Upside
Recommend 16 Positive 22 Negative 15 |
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LENS (06613.HK) recorded a loss in 1Q26 due to higher operating expenses and foreign exchange losses, BofA Securities issued a research report saying. The broker expected the impact of exchange rate risks and weak orders from Android customers to persist in the short term. However, the Company will benefit from specification upgrades for iPhone from 2026 to 2027, while expansion into multiple new businesses should support long-term upside. The broker lowered its 2026-2028 earnings forecasts by 14-24%, and trimmed its target price for LENS' H-shares to $24 from $28, with rating reiterated at Buy. The stock is currently trading at its 2026-2027 projected PE ratio of 20x, below its historical average. BofA Securities downgraded LENS' A-shares from Buy to Underperform due to relatively high valuation. The shares are currently trading at a projected PE ratio of 30x, close to the historical average, and at a premium to major Apple suppliers' average of 21x. The broker chopped its target price for LENS' A-shares to RMB27 from RMB33. Auto-translated by AI AASTOCKS Financial News |
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