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00981 SMIC
RTNominal up16.140 +0.640 (+4.129%)
Research Report

14/11/2019 15:43

{I-bank focus}HSBC upgrades SMIC (00981) to "hold" & HK$10.7

[ET Net News Agency, 14 November 2019] HSBC Global Research lifted its target price for
SMIC (00981) to HK$10.7 from HK$6.6 and upgraded its rating to "hold" from "sell".
With many key semis players indicating a recovery in semis cycle and restocking demand,
the research house sees scope for SMIC to improve operations into 2020. HSBC also expects
5G related demand for mature foundry nodes from CMOS image sensor (CIS), power management
IC (PMIC), fingerprint sensor, and Bluetooth, etc, and localization demand from Chinese
fabless companies to also support operations in 2020.
As a result, it turned less negative on SMIC. However, HSBC still has structural
concerns on SMIC as the lasting cost burden from heavy investment in advanced nodes in
order to catch up with leading players such as TSMC and Samsung in the foundry market.
(KL)

Remark: Real time quote last updated: 24/01/2020 17:59
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