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<Research>BOCOMI Lifts SMIC (00981.HK) TP to $93, Keeps Rating at Buy
Recommend 25 Positive 40 Negative 10 |
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SMIC (00981.HK) planned to acquire a 49% stake in Semiconductor Manufacturing North China for RMB40.6 billion, BOCOMI released a research report saying. Upon completion of the transaction, Semiconductor Manufacturing North China will become a wholly-owned subsidiary of SMIC. The broker believed that Semiconductor Manufacturing North China's main business is 12-inch wafer foundry, which has stronger profitability. Therefore, BOCOMI kept rating at Buy for SMIC, and lifted its target price to $93. The broker also raised its 2026/ 2027 diluted EPS forecasts for the Company to US$0.16/ US$0.18, compared to the previous US$0.14/ US$0.16, and increased BVPS to US$3.05/ US$3.27, from the previous US$2.93/ US$3.18, believing that this equity adjustment is beneficial to the Company's shareholders both in the short and long term. AASTOCKS Financial News Website: www.aastocks.com |
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