SMIC Surges Over 5% to Record High as Goldman Sachs Issues Buy Rating

Deep News
09/17

The lithography equipment index posted strong gains, with semiconductor stocks continuing to strengthen during trading. Semiconductor Manufacturing International Corporation (SMIC) surged over 5% intraday to reach a historic high. As of press time, the stock was up 4.75% to HK$66.20, with trading volume reaching HK$5.341 billion.

Goldman Sachs issued a research report on SMIC yesterday, stating that the firm is optimistic about the company due to demand-driven utilization and gross margin recovery, along with the company's continued stable capacity expansion and new AI opportunities. The bank expects the company's third-quarter upward trend to serve as a catalyst, forecasting sequential revenue growth of 5%-7% and gross margins projected at 18%-20%. Goldman Sachs assigned a buy rating to SMIC and raised its target price to HK$73.1.

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