小摩：上调中芯国际(00981)目标价至36港元维持“减持”评级

智通财经2025-08-12

智通财经APP获悉，摩根大通发布研报称，中芯国际(00981)毛利率持续承压，维持该股“减持”评级，目标价由32港元上调至36港元，随着公司继续扩大28纳米及以下晶圆产能，未来2-3年资本支出可能仍将保持高位，该行估计为70亿至75亿美元。短期内，该行认为2025年第四季库存去化和CIS市场竞争加剧可能会抑制利润率和平均售价。报告指，尽管领先芯片组合有所增加，但毛利率疲软且定价持平，该行对此保持...

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小摩：上调中芯国际(00981)目标价至36港元 维持“减持”评级

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小摩：上调中芯国际(00981)目标价至36港元维持“减持”评级