[ET Net News Agency, 22 December 2020] Jefferies Research maintained its target price
for SMIC (00981) at HK$23.04 but upgraded its rating to "buy" from "hold".
The research house sees SMIC's official inclusion in the "US entity list" as a potential
positive since it would likely force it to focus on mature nodes. It believes the tight
supply and demand dynamics in mature nodes and much lower R&D/capex costs (versus advanced
nodes) will improve ROIC (return on invested capital).
Jefferies said the US ban is focused on tech enabling 10nm or below. It said that SMIC's
new vice-chairman Chiang Shang-Yi had led TSMC's R&D in mature nodes and advocated using
advanced packaging to improve performance and new Beijing JV on mature nodes is confirmed.
(KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00981 SMIC
Nominal 
15.100 +0.240 (+1.615%) Research Report
22/12/2020 14:01
{I-bank focus}Jefferies upgrades SMIC (00981) to "buy"
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |