AAC Technologies upgraded to Buy from Hold at Jefferies

Jefferies analyst Jacky He upgraded AAC Technologies (AACAY) to Buy from Hold with a price target of HK$60, up from HK$48. Second half revenue beat the firm’s and consensus estimates and management guided 2025 revenue to grow by double-digits, the analyst tells investors. Original equipment makers looking for hardware innovation to load AI features could raise demand for optic, thermal, and sensor and AAC is “capable of most,” the analyst added.