22 Jul 2024 CMB International Global Markets | Equity Research | Company Update Sunny Optical (2382 HK) Positive profit alert alleviates GPM concerns; Upgrade to BUY We upgrade Sunny Optical to BUY and raise our TP to HK$67.88 following 1H24 positive profit alert of 140-150% YoY growth, as we think Sunny's GPM recovery, iPhone share gain and hybrid/periscope cam adoption are tracking ahead of expectations. We revised up our FY24-25E EPS by 46-82% to reflect stronger GPM, iPhone share gain (18%/25% in 2024/2 ...