DBS Raises SMIC TP to HKD96 After 2Q Results Far Exceed Expectations
AASTOCKS News·- DBS reported that SMIC's 2Q revenue reached USD 3.01 billion, up 36% year-on-year, while gross margin significantly beat market expectations at 25.3%. - Management projected 3Q revenue growth of 2% to 4% quarter-on-quarter and guided gross margin to be between 26% and 28%. - Following these results, DBS raised SMIC's earnings forecasts for 2026 to 2028 by 13.4% to 16.5% and lifted its target price to HKD 96.