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00981 SMIC
RTNominal unchange18.700 0.000 (0.000%)
Research Report

14/02/2020 17:13

{I-bank focus}Goldman Sachs lifts SMIC (00981) to HK$20.8

[ET Net News Agency, 14 February 2020] Goldman Sachs lifted its target price for SMIC
(00981) to HK$20.8 from HK$18.4 and maintained its "buy" rating.
The research house said SMIC reported strong 14nm (1% of revenue in 4Q 2019) and guided
2020 capex at US$3.1bn (+55%), which reaffirms Goldman's constructive view on the company
and China semiconductors.
SMIC's 1Q revenue guidance (up 0-2% QoQ) is also better than expected with the mid-point
being 5% higher than Goldman/street's estimates. Goldman raised its EPS forecasts by 3%/3%
for 2020/21 on the back of strong results and guidance, driven by the 12/14nm ramp-up and
solid demand on mature nodes for CIS, NOR flash, and Bluetooth IC. (KL)

Remark: Real time quote last updated: 03/06/2020 08:15
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