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<Research>G Sachs Lifts SMIC's TP to HKD73.1; AI, Fabless Semiconductor Expansion to Drive LT Uptrend
Recommend 12 Positive 25 Negative 11 |
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The rising demand for semiconductor companies that design chips in China and outsource them to professional foundries (i.e., fabless semiconductor companies) is expected to benefit wafer foundry SMIC (00981.HK) in terms of utilization and gross margin recovery, Goldman Sachs said in its research report. Coupled with SMIC's stable capacity expansion and new AI opportunities, Goldman Sachs adopted an optimistic outlook on the company. The broker gave it a Buy rating and raised its target price from HKD63.7 to HKD73.1. In Goldman Sachs' estimate, the strong growth of AI and fabless semiconductor companies will support SMIC's sales volume and average price. Accordingly, the broker lifted its 2028-29 revenue forecast for the company by 0.4% and 2%, respectively. AAStocks Financial News |
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