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Fly News Breaks for September 21, 2018
SMI
Sep 21, 2018 | 09:39 EDT
As previously reported, Morgan Stanley analyst Charlie Chan downgraded SMIC to Underweight from Equal Weight as he expects lower fab utilization for second-tier foundries during the semi downcycle. The analyst, who lowered his price target on SMIC shares by 24%, also voiced concerns over the company's high financial leverage.
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