CICC: maintain the "outperform" rating of Si Moore International, with a target price of HK $74

CICC issued a research report$small Moore International (06969.HK) $With outstanding core competitiveness, Seymour International has established a complete patent protection system in the field of ceramic cores, and the bank believes that it is difficult for new entrants to evade; the company has industry-leading production capacity, yield and consistency to fully meet the order needs of major customers. With the laying of automatic production lines, the production capacity is expected to be further improved, reducing costs and increasing efficiency. In addition, the advantages of high-quality customers, as well as regulatory barriers such as PMTA in the United States, enable the company to effectively cooperate with customers in new product development.

CICC believes that the ceramic core field has a strong know-how attribute, and most of the competitive products are in the early R & D and sample delivery stage, and it still takes time to test the consistency of its large-scale mass production and whether high-quality customers can be obtained, reiterating the company's competitive barriers and continued leading advantages as a global atomization technology leader.

Taking into account the continued growth trend of the company's core customers, CICC raised the company's adjusted net profit forecast for this year and next by 5% to 4%, maintaining the stock's "outperform industry" rating and target price of HK $74.

Seymour International closed up 6.96% at HK $43.05.

GLJ Research: reiterate Tesla's "sell" rating, with a target price of $67

GLJ Research analyst Gordon Johnson released a research report reiterating his commitment to$Tesla (TSLA.US) $The "sell" rating, with a target price of $67. The analyst cut Tesla's second-quarter delivery forecast to 194000 vehicles from 196000, while full-year delivery forecasts for 2021 were raised to 799700 vehicles from 783900.

"We made this adjustment because we think Tesla will sell about 30, 000 vehicles in China in June 2021," Johnson said. Johnson said it was customary for Tesla to send a "summary of delivery expectations" to some analysts towards the end of the month, thereby lowering market expectations for delivery and making it easier for Tesla to achieve "better-than-expected" results. Johnson stressed that investors should pay attention to the "adjustment" of Tesla's delivery expectations by some analysts in the next few days.

As of press time, Tesla rose 0.6% to US $627.45 before trading.

Argus: first give TSMC a "buy" rating, with a target price of US $150,

On June 22nd, Argus analyst Jim Kelleher released a research report covering for the first time$TSMC (TSM.US) $Give a "buy" rating and a target price of $150.

The analyst said the company had a "positive" five-year capital expenditure plan and that the emerging chip supplier was becoming the key to solving the problem of global chip supply and demand.

Kelleher added that he believes TSMC will have long-term unexpected growth given the accelerated demand for traditional IT products, cyclical drivers such as 5G and cloud data centres, and long-term drivers such as artificial intelligence, the Internet of things and self-driving.

As of press time, TSMC rose 0.91% to US $115.37.

Evercore: Nvidia's "outperform" rating, with a target price of 750USD

C.J. Muse, an analyst at Evercore Investment Bank$Nvidia (NVDA.US) $Nvidia is the analyst's "preferred stock" with an "outperform" rating with a target share price of $750. It is understood that since Nvidia announced plans to buy British chip designer ARM for $40 billion last year, the chip giant's prospects have become even greater. But since the deal still needs to be approved by the US, UK and China, it is unclear whether the acquisition will eventually be approved.

Muse may be bullish on Nvidia, but his recent target price for Nvidia means that Nvidia's shares will remain in a range for now.

Muse thinks investors are not optimistic about the future of the deal. Muse said the market believes that the possibility of a merger between the two companies is very low, which means that the benefits from ARM give Nvidia's share price little room to rise. As a result, Muse continues to view ARM's successful acquisition as a free call option given to investors.

Muse explains that as data-oriented economies become more common around the world, more and more complex frameworks are emerging. As the number of terminal applications grows further, driven by this continuous innovation, it becomes more and more difficult for ARM to deal with these growth factors on its own.

Muse points out that this is why ARM needs Nvidia, because Nvidia can provide a resource-rich platform for GPU/DPU hardware and accelerated software stacks, which is a huge complement to ARM's world-class CPU IP portfolio. More importantly, the cost of this technological innovation can be reduced because ARM customers can use Nvidia's pre-built platform to invest R & D money in more professional tasks.

On regulatory issues, Muse said Nvidia remained optimistic about getting approval from all regions, "particularly in the UK and China." "

As of press time, Nvidia rose 0.22% to $757.1 before trading.