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<Research>Citi Raises TSMC's TP to TWD1,540; 3Q Results Beat
Recommend 2 Positive 0 Negative 1 |
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Citi has released a report stating that TSMC's 3Q results exceeded expectations on strong demand for artificial intelligence (AI), robust execution, and better capacity utilization at advanced nodes. TSMC's results during the period were sturdy, with GPM of 57.8% that has surpassed the high end of the guidance target of 55.5%. Given that TSMC's revenue and gross profit outlook for 4Q were also far beyond expectations, the broker elevated its TP for TSMC from TWD1,500 to TWD1,540, with a Buy rating. AAStocks Financial News |
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