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<Research>G Sachs Upgrades HUA HONG SEMI to Buy, Raises TP to HKD68.1
Recommend 19 Positive 40 Negative 19 |
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HUA HONG SEMI (01347.HK) opened 2.72% higher today and once peaked at HKD60.5, an over four-and-a-half-year high. It was last at HKD58.3, up 9.28%, with a trading volume of 77.8779 million shares, involving HKD4.511 billion. Goldman Sachs has released a report upgrading HUA HONG SEMI's rating from Neutral to Buy and raising its target price by 28% to HKD68.1. The broker based its positive outlook on tailwinds including the company's new growth opportunities from AI applications such as data center power management chips and mature process chips for edge AI devices, high capacity utilization supporting price improvements over the past few quarters, expanding domestic customer demand, the "made in China for China" trend driving long-term demand, as well as ongoing capacity expansion and technology node upgrades (expected introduction of 28nm in 2027). Regarding the Chinese semiconductor sector, Goldman Sachs favored companies with AI and advanced technology exposure and a relatively mild competitive landscape. Back in February, it upgraded SMIC (00981.HK)'s rating to Buy. AAStocks Financial News |
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