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<Research>M Stanley Lifts TSMC TP to TWD1,330, Reiterates Rating at Overweight as Top Pick
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Morgan Stanley released a research report lifting its target price for TSMC (TSM.US) to TWD1,330 from TWD1,280 on its strong gross profit margin performance in 3FQ24, with rating reiterated at Overweight and Top Pick. The broker also expected TSMC's stock and AI semis to react positively in the coming trading days. TSMC's 3FQ24 gross profit margin was 57.8%, higher than the expectations of Morgan Stanley and the market of approx. 55%, Morgan Stanley added. TSMC estimated gross profit margin to remain in the 57-59% range in 4FQ24 in light of continued high fab utilization and productivity improvement efforts. The broker believed that some of the margin expansion is structural, but some is seasonal. AAStocks Financial News |
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