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Fly News Breaks for October 31, 2019
UMC
Oct 31, 2019 | 08:03 EDT
Goldman Sachs analyst Bruce Lu upgraded UMC to Neutral from Sell with a price target of $2.30 per ADR, up from $1.60. Though he lowered his 2019 earnings estimate by 2.9% and cut his 2020 earnings estimate by 5.1% to factor in the company's updated near-term outlook and higher depreciation in 2020 associated with the new MIFS facility, Lu said he sees potential synergies in the future following its MIFS acquisition. He also cites increased confidence in 28nm growth recovery following the company's Q3 report.
News For UMC From the Last 2 Days
UMC
Apr 24, 2024 | 11:31 EDT
Citi analyst Laura Chen upgraded UMC to Buy from Neutral with a NT$58 price target after the company posted better-than-expected Q1 results. UMC expects wafer shipments to rise by a low-single digit percentage quarter-over-quarter with average selling price staying firm, notes the analyst, who sees a "gradual improvement on the way."
