0248 GMT - Hua Hong Semiconductor's increasing technology offerings will support its long-term growth outlook, Citi analysts say in a research note. Hua Hong's recent decision to acquire a chip-making facility from its parent group could lift its average selling price substantially, as the new fab will enable more advanced chip production, they say. Meanwhile, the Chinese company's 3Q results showed a diversified end-market and regional strength despite geopolitical tensions, they note. Citi upgrades the stock to buy from neutral, citing the company's high utilization rate and a gradual upward trend in gross margin. The bank lifts the target price to HK$105.00 from HK$45.00. Shares are 3.7% lower at HK$77.15. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
November 06, 2025 21:48 ET (02:48 GMT)
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