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<Research>HTSC Raises SMIC's TP to HKD119, Bullish on Growth in Advanced Process Mkt Shr
Recommend 13 Positive 29 Negative 14 |
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Huatai Securities has released a research report raising its target prices for SMIC's (00981.HK) (688981.SH) H-shares from HKD63 to HKD119 and for its A-shares from RMB118.3 to RMB238, with a Buy rating remaining in place. The broker also maintained its 2025-27 net profit forecasts for SMIC, predicting YoY increases of 26%/ 22%/ 27% to USD620 million/ USD760 million/ USD960 million. Looking ahead, Huatai Securities believes that the intensive release of Chinese-made AI chips led by Huawei will power rapid growth in domestic demand for advanced process foundry services. Further tightening of US export controls on equipment to China is also expected to compel domestic foundry companies like SMIC to increase their market share. Huatai Securities suggested investors pay attention to future trends in SMIC's product pricing and changes in minority interests. AAStocks Financial News |
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