TSMC, the Technology sector company, was revisited by a Wall Street analyst on July 17. Analyst Brad Lin from Bank of America Securities reiterated a Buy rating on the stock and has a $290.00 price target.
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Brad Lin has given his Buy rating due to a combination of factors including TSMC’s strong quarterly performance and positive future outlook. The company’s results for the second and third quarters surpassed expectations, driven by improved gross profit margins and operational efficiencies. Furthermore, TSMC’s guidance for the rest of the year has been upgraded, with a notable increase in revenue growth forecasted for 2025, largely due to robust demand in the AI sector.
TSMC’s strategic expansion in advanced technology nodes and capacity for AI and high-performance computing chips positions it well for sustained growth. The company is actively addressing supply-demand challenges and is poised to benefit from long-term structural growth drivers, such as the adoption of the N2 node and opportunities in humanoid robotics. These factors, along with TSMC’s technological leadership, underpin Brad Lin’s confidence in the stock’s potential, leading to the reiterated Buy recommendation.
According to TipRanks, Lin is ranked #719 out of 9841 analysts.
In another report released on July 18, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $279.00 price target.