BNP Paribas Rates SMIC Outperform; Primary Engine to Power CN AI Ambition
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BNP Paribas has rated SMICas Outperform, citing strong 1Q results and an optimistic 2Q revenue outlook driven by higher ASP and shipment volumes in consumer and IoT sectors. The report highlights SMIC's unique capability to support Huawei's Ascend 950 PR AI chip, predicting a revenue CAGR of 19% and earnings CAGR of 42% from 2026 to 2028, with a target price of HKD86.
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