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Investing.com - Jefferies initiated coverage on Zhejiang Lante Optics (SH:688127) stock with a Buy rating and a price target of RMB30.00 on Tuesday.
The research firm highlighted Lante’s mastery of core optical component technologies, including cold processing and hot-press molding, which enable the company to produce various products such as glass prisms and aspheric lenses.
Jefferies noted that Lante first established itself as a leading supplier of double-sided infrared reflective prisms for iPhone X’s Face ID application in 2017, and in 2023 became the second-largest supplier of micro prisms for the iPhone 15 Pro Max.
The firm identified G+P hybrid lens as an emerging trend in smartphone and automotive optical solutions, expecting the rising penetration of hybrid lenses in different downstream markets to benefit Lante as it expands its customer base.
Jefferies also pointed to Lante’s business exposure to augmented reality (AR) through its supply of glass wafer products to leading customers, describing this as a long-term growth driver similar to the company’s competitor Crystal.
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