Taiwan Semiconductor Shares Rise as Bernstein Raises Price Target
Taiwan Semiconductor Manufacturing Co. Ltd. shares posted gains after Bernstein raised its price target. The firm cited the company's AI-related production and earnings outlook.
BenzingaShares of Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) rose after Bernstein SocGen Group increased its price target on the stock to $430 from $351 while keeping an Outperform rating. 67, placing its relative price strength in the top 10 percent of the market.
The firm projects a 28 percent compound annual growth rate in earnings per share over the next two and a half years. Bernstein also stated that Taiwan Semiconductor is already mass-producing "true 2nm" chips and is limited by capacity rather than demand, giving it an edge over Intel Corp.
(NASDAQ: INTC) and Samsung. The report noted that recent price action aligns with the company's fundamentals in the AI segment.
Key Facts
Story Timeline
2 events- Recent week
TSM momentum score rose from 89.57 to 90.67.
1 sourceBenzinga - Recent update
Bernstein raised price target to $430 from $351.
1 sourceBenzinga
Potential Impact
- 01
Investors may review holdings in TSM following the target change.
- 02
Competitors may face continued pressure on advanced-node capacity.
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