Ruisheng Technology (02018) rose more than 4% in the afternoon. As of press release, it was up 3.73% to HK$19.46, with a turnover of HK$74.2058 million.
The Zhitong Finance App learned that Ruisheng Technology (02018) rose more than 4% in the afternoon. As of press release, it had risen 3.73% to HK$19.46, with a turnover of HK$74.2058 million.
According to the news, Morgan Stanley published a report raising the target price of Ruisheng Technology by 44% from HK$18 to HK$26, and the investment rating to “increase holdings.” Damo said that 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.
The bank said that in line with the economic recovery in line with industry demand, Ruisheng Optics' business sales and average sales price 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.