TSMC Stock Price Target Raised to $290 on Strong AI Demand
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the AI Stocks on Wall Street’s Radar. On September 4, Bernstein SocGen Group analyst Mark Li raised the price target on the stock to $290.00 (from $249.00) while maintaining an Outperform rating. The firm cited a better artificial intelligence outlook behind the rating affirmation.
According to the firm, strong AI demand, coupled with improving non-artificial segments, will lead to 33% revenue growth for the year. Export data confirms that there is a rapid ramp in the near term, whole CSPs signals reflect strong AI demand growth for the next year.
Meanwhile, non-AI demand is showing early signs of mild recovery and there is additional support coming…
