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Anker May Benefit From Strong iPhone Accessories Demand -- Market Talk

Dow Jones Newswires ·  2021/10/27 22:00

0155 GMT - Anker Innovations Technology's new products with higher average selling prices could help to offset some pressure from higher raw material prices, Daiwa Capital says. The company is likely to gain from strong consumer demand for iPhone 13 accessories from 4Q, and Daiwa notes Anker has been expanding its product categories to attract more clients. High sea-freight costs should have a limited impact on Anker, as the company has been stocking up inventory at its self-owned overseas warehouses. Daiwa maintains a buy rating but cuts its target price to CNY125 from CNY135, citing weaker-than-expected 3Q earnings. Shares slide 7.9% lower to CNY92.96. (justina.lee@wsj.com)

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