Applied Optoelectronics(US:AAOI) First Shanghai Securities·2026-03-03 11:16Company Research - Applied Optoelectronics (AAOI) is expected to see a significant increase in revenue, with a target price of $159.00, representing an 88.8% upside from the current price of $84.23[6] - Citic Securities (6030) has a target price of HKD 33.80, indicating a 20.5% upside from the current price of HKD 28.06[11] - Huatai Securities (6886) has a target price of HKD 20.33, reflecting a 21.2% upside from the current price of HKD 16.78[25] - CICC (3908) has a target price of HKD 25.81, suggesting a 27.4% upside from the current price of HKD 20.26[30] - Guotai Junan (2611) has a target price of HKD 19.66, indicating a 23.3% upside from the current price of HKD 15.94[37] Industry Commentary - The securities industry is entering a new cycle characterized by a dual boost in ROE and valuation, driven by favorable policies and improving fundamentals[45] - The average daily trading volume in the market increased by 71.1% year-on-year, significantly boosting the performance of listed securities firms[48] - The industry is expected to see a rise in concentration, with the CR5 approaching 50% by 2026, as mergers and acquisitions become a core path for supply-side reform[47]