According to "The Big Bank," Bank of America Securities raised the target price for Taiwan Semiconductor to NT$2,150 with a rating of "Buy."

AASTOCKS
2026.01.12 02:37

Bank of America Securities released a report, expecting that Taiwan Semiconductor (TSM.US) will see sales growth of 27% and 22% year-on-year in 2026 and 2027, respectively, primarily benefiting from the strong support of a compound annual growth rate of 43% in the AI application foundry market.

The firm reiterated its "Buy" rating on Taiwan Semiconductor and raised its target price for Taiwan stocks (2330.TW) from NT$1,960 to NT$2,150, with earnings per share forecasts for 2025, 2026, and 2027 set at NT$65.41, NT$86.37, and NT$107.38, respectively. The firm has revised its earnings per share forecasts for 2026 and 2027 upward by 6% and 12%, reflecting better pricing power.

After a significant upward revision of last year's fourth-quarter sales to a quarter-on-quarter growth of 6% compared to previous guidance, the firm expects sales in the first quarter of 2026 to further increase by 1%, benefiting from strong momentum in high-performance computing (HPC) and the deferred contribution from wafer shipments delayed by previous earthquakes

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