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HSBC Research Cuts SMIC (00981.HK) TP to HKD89; Outlook for 2026 More Positive
Recommend 14 Positive 20 Negative 4 |
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HSBC Research published a report stating that SMIC (00981.HK) delivered a better-than-expected gross margin in 1Q, while its 2Q revenue guidance exceeded expectations, supported by improvements in shipment volume and average selling prices. The broker has turned more positive on SMIC's full-year 2026 outlook and is optimistic about the full-year average selling price trend, expecting revenue to grow 28% YoY in 2026. HSBC Research lowered its 2026 and 2027 EPS forecasts for SMIC by about 13% each to reflect earnings volatility arising from non-operating income. However, its 2026 EPS forecast remains 10% above market consensus. The broker cut its H-share TP to HKD89 from HKD93 and reduced its A-share TP for SMIC (688981.SH) to RMB146 from RMB153, while maintaining a Buy rating.(ad/da) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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