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大行評級|中銀國際:上調華虹半導體目標價至42.5港元 有多個正面催化因素
中銀國際發表報吿指出,華虹半導體今年首季度業績令人失望,雖然收入符合預期,但毛利率按季跌2.1個百分點,反映定價挑戰持續以及較高的折舊費用。集團指引今年次季毛利率為7%至9%,較市場預期低4個百分點,意味着競爭環境更為激烈,儘管Fab9項目擴產亦是原因之一。該行維持“買入”評級,目標價由30.1港元升至42.5港元。儘管關税的不確定性仍然存在,該行依然對華虹保持積極看法,因為有多個正面催化因素,包括新興的AI需求、關税促使國內市場需要新的替代品,以及附屬上海華力的潛在整合。
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