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《大行報告》瑞銀削華虹半導體(01347.HK)目標價至16元 評級「沽售」
瑞銀將華虹半導體(01347.HK)2023年基本每股盈利預測下調11%,主要是由於需求不確定性上升,以及2023年後代工產能緊張緩解時,定價環境的支持性減弱。該行將其目標價由33元下調至16元,評級「沽售」。 瑞銀估計,華虹今年下半年產能利用率將小幅下降至93%,而其今年第一季產能則逾100%,監於對2023年後緣代工供需正常化的擔憂,預計價格將面臨下行風險,並認爲毛利率可能面臨12英寸晶圓廠擴張所帶來的折舊回升壓力,預計毛利率將從今年的27.5%收縮至2023年的21%。
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