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Fly News Breaks for June 25, 2019
UMC, UMC
Jun 25, 2019 | 12:14 EDT
CLSA analyst Sebastian Hou upgraded UMC two notches to Outperform from Sell, saying the chip inventory chip situation has been worse than expected in the first half of 2019, but feels "we are a step closer" to the cyclical bottom. In a research note to investors, Hou argues that while the upcoming earnings season may surprise more to the downside, there may be an attractive entry point in the next three months if market expectations and valuations are lowered accordingly.
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