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[Brokerage Focus] Goldman Sachs raises Semiconductor Manufacturing International Corporation (00981) target price by 5%, but uncertainty in fourth-quarter orders is expected to remain.
Goldman Sachs report indicates that the replenishment demand for Consumer Electronics and Smart phone components of Semiconductor Manufacturing International Corporation (00981) continues to support the company's third-quarter shipments and deliveries. However, as customers typically review and adjust orders within the quarter, there remains uncertainty about the fourth quarter. Based on the company's performance in the second quarter and its outlook for the third quarter, Goldman Sachs raised the company's annual profit expectations for 2024 to 2028 by 64%, 5%, 4%, 4%, and 2% respectively. In addition, revenue expectations for 2024 were raised by 5%, and 2025 and 2026 were
Goldman Sachs: Gives Semiconductor Manufacturing International Corporation (00981) a "Neutral" rating with a target price increase to HKD 22.4.
Goldman Sachs predicts that the revenue forecast for Semiconductor Manufacturing International Corporation (00981) will increase by 5% in 2024.
Hong Kong Shares Rise 0.2%, Tracking Wall Street's Gains -- Market Talk
Semiconductor stocks rose at the beginning of trading, with Hua Hong Semiconductor (01347) up 2.11%. Institutions point out that the performance of semiconductor material companies is expected to continue its growth trend.
Jingu Caixun | Semiconductor stocks rose at the beginning of the trading day, with Smart-Core (02166) up 2.75%, Hua Hong Semi (01347) up 2.11%, Ce Huada Tech (00085) up 1.85%, Semiconductor Manufacturing International Corporation (00981) up 1.69%, and Shanghai Fudan (01385) up 1.27%.
[Brokerage Focus] Huatai Securities raises Semiconductor Manufacturing International Corporation (00981) target price to HKD 19.3, citing better-than-expected guidance for the third quarter.
Jingu Caixun | Pu Yin International released a research report indicating that Semiconductor Manufacturing International Corporation (00981) is in an upward trend in semiconductor fundamentals. The company expects a 14% increase in median revenue for the third quarter, with gross margins reaching 19%, up 5.1 percentage points QoQ. This is mainly due to the drive of domestic demand leading to a supply shortage of 12-inch capacity, optimized product structure, and rising prices. The company expects to increase its 12-inch capacity by about 0.06 million pieces by the end of this year, higher than its previous plan. Based on the results of the second quarter and the guidance for the third quarter of Semiconductor Manufacturing International Corporation, the bank has adjusted its profit forecast for the company. The bank has raised its target price of Semiconductor Manufacturing International Corporation's Hong Kong stocks to HKD19.3.
Jefferies Adjusts Semiconductor Manufacturing International's Price Target to HK$18 From HK$16.64, Keeps at Hold
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