Core Viewpoint - Goldman Sachs upgraded Hua Hong Semiconductor's rating from "Neutral" to "Buy," raising the target price by 28% to HKD 68.1, citing new growth opportunities driven by AI applications and strong demand from domestic customers [1] Group 1: Growth Opportunities - AI applications are expected to bring new growth opportunities, particularly in data center power management chips and mature process chips for edge AI devices [1] - The company has experienced high capacity utilization in recent quarters, supporting price improvements [1] Group 2: Demand and Trends - There is an expansion in domestic customer demand, driven by the trend of "China manufacturing for China" which is expected to support long-term demand [1] - The semiconductor sector in China is favored for companies with exposure to AI and advanced technologies, as well as a relatively mild competitive landscape [1] Group 3: Capacity and Technology Upgrades - Continuous capacity expansion and technological upgrades are anticipated, with a projection to introduce 28nm technology by 2027 [1]
大行评级｜高盛：上调华虹半导体目标价至68.1港元 评级升至“买入”