Glonghui, January 29 | Morgan Stanley published a report raising Ruisheng Technology's target price by 44% from HK$18 to HK$26, while raising the investment rating from “synchronizing with the market” to “increasing holdings”. Damo said that industry recovery and corporate structural improvements will help reduce Ruisheng's optical business will experience significant losses in 2024. The return of Huawei is a positive driving force for both the industry and the company. Increased market share of orders for acoustics, haptics, and new housings may also drive revenue growth. Damo said that in line with industry demand, Ruisheng Optics' business sales and average sales prices both improved in the second half of 2023. The bank believes this may support 2024, and the company's 6P and above lenses will further improve the contribution of the optical product portfolio. The bank expects Ruisheng's gross loss to be reduced by 500-600 million yuan in 2024, which will be a strong profit driver.