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<Research>Citi Adds MONTAGE TECH/ ASMPT to H-Share Top Buy, Removes CONANT OPTICAL/ LENS
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Citi lowered its year-end target for the HSI to 29,600 in mid-to-late this month, with an early next year target of 30,500. The broker added two semiconductor stocks, MONTAGE TECH (06809.HK) and ASMPT (00522.HK), to its H-share Top Buy list, while removing two hardware names, CONANT OPTICAL (02276.HK) and LENS (06613.HK), as semiconductors are its most preferred sub-sector within the tech sector.

Meanwhile, the broker added MMG (01208.HK) and removed ZIJIN MINING (02899.HK), expecting that the former still has greater share price upside after the latter has significantly outperformed. It also added brokerage CICC (03908.HK) to replace travel-related stock Atour Lifestyle Holdings Limited (ATAT.US), anticipating that CICC will benefit from Hong Kong's strong IPO pipeline.

Related News UBS Lifts Micron Technology, Inc. (MU.US) TP to USD1,625, Raises Earnings Forecasts, Reiterates "Buy"
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