0333 GMT - Semiconductor Manufacturing International Corp.'s share price in Hong Kong likely fully reflects its upward potential, Bocom International analysts say in a note. SMIC's 4Q revenue was better than expected, which management attributed to China's goods and equipment trade-in subsidies and the rush to place orders amid tariff uncertainties. However, the bank cuts SMIC to neutral from buy as high capex could weigh on margins and downstream demand is uncertain. It lifts SMIC's target price to HK$48.00 from HK$32.00 after a recent rally. SMIC's H-shares have gained amid the chip cycle upswing and other positive factors like chip production localization, more liquidity in Hong Kong's stock market and Chinese AI firm DeepSeek's breakthrough, but the positives look priced in. Shares last up 0.5% at HK$48.20. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 22:33 ET (03:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。