JPMorgan released a research report initiating coverage on COWELL (01415.HK) with rating at Overweight and a target price of $44. The broker noted that, over 90% of the Company's revenue comes from Apple (AAPL.US)'s orders.
Although iPhone global shipment growth remained stable, it is believed that expansion can still be driven by camera module specification upgrades.
The outlook for an increased share of high-end models is expected to boost the iPhone RGB camera module market size from approximately US$15.3 billion in 2024 to about US$17.6 billion in 2027.
JPMorgan was optimistic about COWELL's significant increase in market share for rear camera modules, and projected a CAGR of 25% in revenue from 2024 to 2027.
In addition, the incremental contribution from non-iPhone products is expected. Investors are advised to review its prospects before the company announces its interim results.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| APPLE (C) |
10758 |
243 (-) |
0.315 |
5.2 X |
| APPLE (C) |
10614 |
236 (-) |
0.082 |
13.8 X |
| APPLE (P) |
10678 |
170 (-) |
0.048 |
7.5 X |
