TSMC price target lowered to NT$1,145 from NT$1,190 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on TSMC (TSM) to NT$1,145 from NT$1,190 and keeps a Buy rating on the shares as part of a broader research note citing “heightened” appreciation of Taiwan currency vs. US Dollar. The firm maintains its constructive view on TSMC’s long-term growth outlook however, stating that the company’s solid technology leadership and execution positions it better to capture the industry’s long-term structural growth opportunities, the analyst tells investors in a research note.