Baird analyst Tristan Gerra reiterated an Outperform rating and $12 price target on Himax Technologies (HIMX), telling investors in a research note that Himax is a key play on the 3D sensing secular growth trend. Gerra said Himax is engaged with additional, non-China smartphone OEM for 3D sensing, while Alipay (BABA) could potentially validate 3D sending-based payments earlier than previously expected, adding that interlaced Touch and Display Driver Integration ramp in 2019 represents a "significant" share opportunity for the company and the outlook for Wafer Level Optics orders is stronger than previously expected for the second half of the year.