Morgan Stanley continues to list Taiwan Semiconductor as the top choice, raising earnings forecasts and target price

AASTOCKS
2026.01.16 01:58

Morgan Stanley published a research report, continuing to list Taiwan Semiconductor (TSM.US) as a top pick, raising its earnings per share forecast for Taiwan Semiconductor for this year and next year by 8% and 7% respectively. The target price for Taiwan Semiconductor (2330.TW) on the Taiwan stock market has been raised from the original NT$1,988 to NT$2,088, reiterating the "Overweight" rating, emphasizing that based on its latest earnings per share forecast for 2027, the current price valuation is approximately 15 times, which is highly attractive and is believed to attract more capital inflow.

Morgan Stanley stated that after recent direct communication between Taiwan Semiconductor's management and global cloud service providers, it was confirmed that chip supply remains the main bottleneck for AI developers, and customers generally hold a positive view on the return on investment in AI, leading the company to share the same optimistic outlook, having raised its forecast for the compound annual growth rate of AI semiconductors from 2024 to 2029 to between 55% and 59%

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