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SMIC Spikes 5%+ w/ Rating Upgraded to Overweight, TP Lifted to HKD80 by M Stanley
Recommend 25 Positive 49 Negative 13 |
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Morgan Stanley has issued a report upgrading SMIC (00981.HK)'s rating to Overweight and sharply raising its target price from HKD40 to HKD80, according to a Bloomberg report. The report quoted Morgan Stanley highlighting the rapid adoption of AI applications in China and policy support for domestic AI GPUs, both of which will drastically boost domestic demand for advanced process wafer foundries over the next two years. HUA HONG SEMI (01347.HK)'s target price was also lifted to HKD60 by Morgan Stanley, though its rating was downgraded to Underweight. Chip stocks joined the market rally today (21st). SMIC opened 2.1% higher and once hit a peak of HKD76.4 during the session. It last traded at HKD75.9 after midday, up 5.71%, with a volume of 87.8325 million shares, involving HKD6.603 billion. HUA HONG SEMI was last at HKD79.45, up 2%, with a volume of HKD3.171 billion. AAStocks Financial News |
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