By: Lo Hsiu-wen and Frances Huang
Taipei, April 18 (CNA) Several foreign brokerages have raised their target prices on shares of Largan Precision Co. (大立光) after the smartphone camera lens supplier reported a higher-than-expected gross margin for the first quarter of this year.
Credit Suisse is one of the foreign brokerages which have been upbeat about Largan’s earnings prospects. Credit Suisse said that Largan will continue to take advantage of its lead over its peers in high-end camera lens production technology to secure a high gross margin.
The European brokerage has raised a target price on Largan shares to NT$3,280 (US$105) from NT$2,940, while leaving an “outperform” rating on the stock. [FULL STORY]