* Anonymous Analytics, Bocom come to defence of AAC
* Shares in AAC end up 13.6 pct higher
(Recasts with defence by other research firms)
By Donny Kwok
HONG KONG, June 7 Shares of AAC Technologies
Holdings Inc surged on Wednesday in resumed trade
after research firms came to the defence of the Apple Inc
supplier against a short-seller attack.
Shares in the maker of acoustic components ended 13.6
percent higher, helping it make up some of the ground lost since
little-known Gotham City Research first accused it of dubious
accounting practices on May 11.
Shenzhen-based AAC has said that the allegations are
It received support from Anonymous Analytics, also known as
a short-seller, which said in a report on Tuesday that Gotham's
accusations against AAC were misleading and rated the supplier a
Gotham issued a new note on AAC on Wednesday but did not
address concerns raised by Anonymous Analytics. Gotham did not
immediately respond to a request for comment.
BOCOM International said in a research note on Tuesday that
the market would gradually refocus on AAC's fundamentals, adding
that it had a strong growth outlook.
AAC stock ended at HK$92.50, compared with its May 10 price
of HK$111. Anonymous Analytics set its target price for AAC at
(Reporting by Donny Kwok; Editing by Edwina Gibbs)