Goldman Sachs raises SMIC International's target price to HKD 83.5 as demand for AI-related semiconductors continues to increase.

According to the Wise Finance APP, Goldman Sachs has released a research report stating that SMIC (00981.HK) is benefiting from continuous innovation in AI and the demand for AI-related semiconductors, and they have a positive view on it. The bank stated that due to AI-driven long-term growth, they have raised their revenue forecasts for 2028 and 2029 by 0.2% and 0.4%, as well as raising gross profit forecasts by 0.1 and 0.3 percentage points. They are roughly maintaining their earnings forecasts for SMIC for 2025 to 2027, but have raised their earnings forecasts for 2028 and 2029 by 1% and 2% to reflect higher revenue and gross profit forecasts. Furthermore, the bank continues to recommend buying SMIC, with the target price raised from 73.1 Hong Kong dollars to 83.5 Hong Kong dollars.