《大行報告》野村下調中芯(00981.HK)目標價至17元 評級「減持」
野村發表的研究報告指,早前路透報道美國政府正考慮將中芯國際(00981.HK)納入貿易黑名單,而早前美國亦提出建議將公司納入實體清單,假如公司被列入實體清單,在取得美國器材供應及維修支援前需領牌,由於公司是高通(QCOM.US)的主要廠商,估計中芯被禁將嚴重影響高通,所以該行相信禁令出現的可能性較低。
野村指出假如禁令真的實行,估計競爭對手台積電(TSM.US)、聯電、世界先進及華虹(01347.HK)等將最受惠。該行維持對中芯「減持」評級,目標價由26元降至17元。
該行指出在鑄造市場中芯全球市佔約5%,針對公司的禁令將惠及二線競爭者,考慮到大部分國際及中國的IC設計公司已與台積電結盟,故料實際對二線競爭者帶來的益處不大。
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