Goldman Sachs: Maintains Buy Rating on SMIC
Goldman Sachs: SMIC's third-quarter revenue exceeded market expectations and also surpassed management's quarterly forecast of 5%-7%; the gross margin was also higher than guidance (18%-20%) and expectations. SMIC's fourth-quarter revenue forecast is +0% to +2%, which is basically in line with market expectations. With the growing demand from local customers and opportunities related to artificial intelligence, the company's long-term growth is optimistic. Maintaining a buy rating, with a target price of HKD 117 and RMB 211
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