[ET Net News Agency, 8 January 2018] Goldman Sachs maintained its target price for Hua
Hong Semiconductor (01347) unchanged at HK$16.9, but downgraded its rating to "neutral"
from "buy".
The research house said Hua Hong shares have appreciated 64.5% versus the HSCEI's 12.8%
since Goldman initiated coverage on the stock on 19 November 2014. While it remains
positive on Hua Hong's current 8" foundry business, Goldman believes its current valuation
is fair relative to its peers.
Goldman sees Hua Hong's announced 12" JV project as a potential game changer and a
possible driver for sustainable growth, but the proposed JV terms suggest EPS dilution and
ROE erosion in 2018-2021. (KL)
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01347 HUA HONG SEMI
Nominal 
16.380 +0.320 (+1.993%) Others
08/01/2018 16:02
[I-bank focus]Goldman downgrades Hua Hong Semi to "neutral"
| Remark: | Real time quote last updated: 20/09/2024 10:36 |
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