[ET Net News Agency, 3 December 2020] CLSA lifted its target price for Hua Hong
Semiconductor (01347) to HK$52 from HK$38 and reiterated its "buy" rating.
The research house said stronger-than-expected demand at mature foundry nodes should
largely benefit Hua Hong, as the company is one of the few tier-2 foundries with sizable
new capacity expected to come online in 2021-22.
Hua Hong may thus capture the most volume growth, which could lead to an exponential
ramp-up in new fabs in 1H 2021 and turning profitable sooner than expected. Its Wuxi phase
2 (extra 40k/wpm capacity) is expected in 2H 2021-2022, with another new fab beyond Wuxi
expected in 2023-24.
CLSA increased its 2021/22 EPS estimates by 4%/18%. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01347 HUA HONG SEMI
Nominal 
15.460 +0.420 (+2.793%) Others
03/12/2020 18:01
{I-bank focus}CLSA lifts Hua Hong Semi (01347) to HK$52
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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