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<Research>UBS Upgrades SMIC (00981.HK) to Neutral, Elevates TP to $43
Recommend 17 Positive 45 Negative 18 |
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UBS released a research report upgrading SMIC (00981.HK) from Sell to Neutral, and elevating its target price from $14 to $43. The previous Sell rating was based on concerns over operational challenges due to SMIC being included on the US Entity List, potential gross profit margin decline on significant business expansion and mature foundry over-supply. UBS further noted that SMIC has demonstrated its ability to handle operational challenges, and its expansion plans have not been significantly impacted. Therefore, the broker had a more positive outlook on SMIC's prospects, raising its 2026 earnings forecast by 42% to US$1.419 billion, from nearly US$1 billion. AAStocks Financial News Website: www.aastocks.com |
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