Largan’s target price raised to NT$6,060

Focus Taiwan
Date: 2017/04/14
By: Han Ting-ting and Frances Huang

Taipei, April 14 (CNA) A U.S.-based brokerage has raised its target price for shares of Taiwanese smartphone camera lens supplier Largan Precision Co. (大立光) to NT$6,060 (US$199), the highest level among the foreign securities houses that track the stock, after the manufacturer reported a new gross margin high for the first quarter of this year.

In a research note released on Friday, the U.S. brokerage said it expects Largan shares to challenge NT$6,060, an upgrade from an earlier estimate of NT$6,000, on the back of a higher-than- expected gross margin of 70.9 percent for the January-March period.

In an investor conference held a day earlier, Largan said that the first quarter’s gross margin — the difference between revenue and cost of goods sold — improved from the previous quarter’s 70.72 percent.    [FULL  STORY]

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