Wedbush downgraded UMC (UMC) to Neutral from Outperform with a price target of NT$45, down from NT$50. The firm believes mature node foundry is one of the most vulnerable areas in technology to “future demand shocks.” The analyst sees a lack of intermediate term catalysts for the shares but believes UMC’s Q2 estimates “might be achievable.”
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Read More on UMC:
- UMC downgraded to Neutral from Outperform at Wedbush
- UMC Reports Strong March Sales and Announces Q1 Investor Conference
- UMC reports March sales NT$19.86M
- Strategic Merger Potential Between UMC and GlobalFoundries: Opportunities and Challenges
- GlobalFoundries merging with UMC likely ‘difficult and complicated,’ says BofA
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