Goldman Sachs: Upgrades SMIC (01347.HK) target price to 53.4 Hong Kong dollars, maintains "neutral" rating.

According to the Wise Wealth APP, Goldman Sachs released a research report stating that due to the fact that the current target price of Hua Hong Semiconductor (01347.HK) has no room for upside, they are maintaining a "neutral" rating. The bank has lowered profit forecasts for 2025 to 2029 by 33%, 11%, 4%, 2% and 2% respectively, while increasing operating expense forecasts by 8%, 5%, 1%, 1% and 1%. The target price has been raised from 46.9 Hong Kong dollars to 53.4 Hong Kong dollars, equivalent to a forecasted price-to-earnings ratio of 45.4 times next year.