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Investing.com - Jefferies initiated coverage on Zhejiang Crystal-Optech (002273:CH) with a Buy rating and a price target of RMB27.00 on Tuesday.
The research firm identified the company as a "hidden gem" in the optics industry, noting that approximately 60% of Crystal’s revenue comes from Apple (NASDAQ:AAPL). Unlike larger, well-known camera component suppliers such as Sony (NYSE:SONY), Largan, and LG Innotek, Crystal-Optech specializes in lower-content value optical components including prisms, filters, and cover glass.
Jefferies highlighted that Crystal-Optech’s smaller revenue scale and lower profile among investors compared to major camera component manufacturers offers "greater upside potential" than its larger, more widely covered peers.
The firm specifically pointed to Crystal-Optech’s expertise in optical component techniques such as coating and cold processing as key competitive advantages in the market.
Jefferies expects future iPhone camera upgrades to drive increasing demand for Crystal-Optech’s products, with additional requirements potentially generating "strong dollar content growth" for the company.
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