- The shares of Taiwan Semiconductor Manufacturing Company, Limited (NYSE: TSM) have received a $125 price target from Cowen. These are the details.
The shares of Taiwan Semiconductor Manufacturing Company, Limited (NYSE: TSM) have received a $125 price target from Cowen. And Cowen analyst Krish Sankar increased the price target from $120 while maintaining a “Market Perform” rating on the shares.
Sankar had cited the company’s quarterly results as the reason for the adjusted rating. And Sankar explained that while a flight to quality should help the stock, the challenge is the lack of significant margin expansion.
TSMC had projected average sales growth of 15% to 20% annually, which was as much as double its previous expectation. And the company intends to spend $40 billion to $44 billion expanding and upgrading capacity in 2022.
For the fourth quarter, TSMC reported revenue of $15.74 billion, a 24% increase from a year ago as the company had filled high demand for silicon wafers designed for semiconductors. And the company forecasted first-quarter revenue of $16.6 billion to $17.2 billion.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
