UBS: Cuts Hua Hong Semiconductor (01347.HK) target price by 27% to HK$108, upgrades rating to "Buy"

Zhitong Finance APP has learned that UBS issued a research report stating that it has lowered the target price of Hua Hong Semiconductor (01347.HK) by 27% from HK$148 to HK$108, while upgrading its investment rating from "Neutral" to "Buy." The target price cut mainly takes into account the decline in valuation levels of China's semiconductor sector in recent months, as well as the bank's downward revision of Hua Hong Semiconductor's estimated average book value per share (BVPS) for fiscal years 2027 to 2028 from HK$36.88 to HK$30.83.