Professional Documents
Culture Documents
ADR HOLD Fundamental research indicates a 2% upside in the ADR over the next 6-12 months. We have
Direct
calculatedaccess
the targetto thebased
price fullonreport free factors,
fundamental of charge
using aatweighted average of target prices
Fundamental Stock
http://www.iirgroup.com/researchoracle/viewreport/show/20293
obtained using DCF and comparative valuation methodologies. We have taken a 6-12 month
investment horizon for this stock, as the semiconductor industry in which the company operates is
Ticker: SMI
highly cyclical and therefore trends can be captured more accurately with a shorter investment horizon
Target price: US$2.75
We reiterate the ADR a HOLD on fundamental grounds with a 6-12 month target price of US$2.75.
Current price: US$2.70
Hong Kong HOLD The Hong Kong stock is expected to appreciate approximately 1% over the next 6-12 months as the
2% fundamental upside is offset by approximately 1 percentage point downside attributable to the
Stock anticipated increase in the Hong Kong stock discount1 over the same period. The currency impact on
the Hong Kong stock is neutral since the Hong Kong dollar is pegged to the US dollar.
Ticker: 0981.HK
Target price: HK$0.4224 We reiterate the Hong Kong stock (50 Hong Kong shares = 1 ADR) a HOLD with a 6-12 month target
Current price: HK$0.4200 price of HK$0.42.
Analyst: Shilpen Shah Investment horizon - short term actionable trading strategies
Editor: Heloise Capon This report addresses the needs of strategic investors with a long term investment horizon of 6-12 months. If this
Global Research Director: report is provided to you by your broker under the Global Settlement, you may now also access (free of charge) the
Satish Betadpur, CFA short term trading outlook that we publish from time to time for this issuer, looking at the coming 5-30 days for
readers with a shorter trading horizon. These are available online only at www.researchoracle.com