《大行报告》高盛上调中芯(00981.HK)目标价至26.2元 评级「买入」
高盛发表的研究报告指,将中芯国际(00981.HK)8寸晶圆及40-90nm 12寸晶圆平均销售单价预测提升,以反映产能供应紧张的情况,另外亦预计本地客户需求强劲。而价格上升主要是因受惠产品组合改善及产能利用率提升等,相信公司的产品平均销售单价将提升。在产能利用率方面,该行估计今年中芯8寸方面的产能利用率将逾95%,而12寸的产能利用率则逾90%,维持对公司「买入」评级,目标价由23.3元升至26.2元。
该行指出中芯8寸晶圆的代工厂房自2019年第三季以来产能利用率已逾九成,估计2021年将维持逾95%,主要因为需求强劲,加上8寸的代工厂房产能扩张因设备供应受限。在价格方面该行指公司的8寸晶圆平均销售单价过去每季跌约1-2%,与行业趋势一致,不过情况自去年首季开始逆转,并每季升1-2%,主要受惠产品组合改善及需求强劲,料趋势将持续而平均销售单价在今年上半年将每季升2-3%,而下半年则维持平稳。(el/k) ~
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