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Jefferies:降華虹(1347.HK)評級至“持有” 目標價升60%至54.64港元
格隆匯 02-16 15:28

Jefferies發表研究報吿,華虹半導體(1347.HK)去年末季業績勝該行及市場預期,收入勝預期4%,毛利更勝預期19%至22%。該行上調其今明兩年收入預測介乎10%至18%,長期收入預測更升22%至33%,主因12英寸晶圓產能利用率加快上升、8英寸更多提價、及12英寸產能擴張加快。該行亦上調其今明兩年EBITDA預測分別94%及54%。

即使資本開支增加,以現金流折現率計,該行上調其目標價60%,由34.53元升至54.64元,但強勁展望及基本面已反映於股價,過去六個月累升約70%,估值高昂,評級由“買入”降至“持有”

報吿稱,全球半導體上行週期、供應短缺、內地國產化潮流、及本地競爭潛在放緩料支持股價企穩。

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