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Fly News Breaks for June 29, 2017
UMC
Jun 29, 2017 | 15:20 EDT
Deutsche Bank analyst Michael Chou downgraded UMC to Sell from Hold and lowered his price target for the shares to NT$12 from NT$12.30. The analyst sees an unfavorable risk/reward given intensified competition from Chinese peers and continued losses in 28nm. UMC should encounter more competition and pricing pressure in its smartphone driver IC and 40nm, Chou tells investors in a research note.
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