智通财经APP获悉，摩根大通发布研报称，维持中芯国际(00981)“中性”评级，将目标价由67港元上调至78港元。摩根大通指，中芯国际第二季毛利率25.3%，较该行及市场预期高出3.6至4个百分点;第三季毛利率指引26%至28%，亦远高于市场预期的约22%。主要驱动因素为人工智能相关需求强劲带动供应紧张，推动加价。
摩通认为，加价对未来数季收入及毛利率属可持续的推动力。惟进一步上升空间或受折旧负担增加所限制，预期2026至2027年折旧年度同比增长约30%及20%，高于收入增长的27%及16%。该行认为，若消费需求复苏带动更强劲及广泛的加价，或良率提升推动更强劲的先进节点增长，将是股价潜在上行风险。
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