Merrill Lynch Believes SMI Won’t Stop Here

By Carrie Williams

Merrill Lynch analyst Robin Cheng reiterated a Buy rating on Semiconductor Manufacturing (NYSE: SMI) today and set a price target of $8.68. The company’s shares closed yesterday at $7.05, close to its 52-week high of $7.07.

Semiconductor Manufacturing has an analyst consensus of Hold.

The company has a one year high of $7.07 and a one year low of $3.84. Currently, Semiconductor Manufacturing has an average volume of 146.3K.

Semiconductor Manufacturing International Corp. develops and manufactures integrated circuits and semiconductors. It offers foundry solutions, turnkey services, mask services, multi-project water service, lab services, and technical support. The company was founded on April 3, 2000 and is headquartered in Shanghai, China.