Goldman Sachs: Raises SMIC (00981.HK) target price to HK$63.7, maintains "buy" rating.

According to the Zhongtong Finance APP, Goldman Sachs released a research report stating that based on the business prospects of SMIC (00981.HK), first quarter performance, and management's guidance for the second quarter, revenue forecasts for 2025 to 2029 have been lowered by 15% to 16%. The expected time for the average selling price of the company's products to recover is longer than expected. Despite the recent pressure on average selling prices due to production issues, Goldman Sachs still maintains a positive view on SMIC and expects the company to benefit from increased domestic production demand and product upgrades. They maintain a "buy" rating with a target price raised from 62.7 Hong Kong dollars to 63.7 Hong Kong dollars.