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大行評級|花旗:上調中芯國際目標價至17港元 相信其正處於復甦的正確軌道上
花旗發表研報指,中芯國際今年第二季業績超出公司早前增長指引及市場預期,主要由於期內消費電子產品需求復甦,以及中國市場庫存補充所推動。與華虹半導體情況相似,目前中芯的8吋及12吋的晶圓產能利用率(UTR)均有改善,其中12吋UTR處於滿載運行的狀況。報吿指出,管理層表明市場競爭下12吋晶圓仍然需求殷切,目前預測第三季銷售將按季增長13%至15%,毛利率料進一步擴張到18%至20%。憧憬中國本土化趨勢可支持中芯的擴張,花旗相信中芯正處於復甦的正確軌道上,但同時亦提醒潛在的貿易緊張局勢可能會帶來更多不確定性,維持“中性”評級,目標價由16.2港元上調至17港元。
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