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<Research>Citi Raises TSMC TP to TWD1,030 as AI & Advanced Nodes Deliver Consistent Outstanding Growth
Recommend 2 Positive 5 Negative 1 |
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TSMC (TSM.US)'s 1Q24 earnings grew 9% YoY to TWD225.5 billion, with gross profit margin keeping strong resilience at 53.1%, beating the forecasts of Citi Research and the market, Citi Research released a research report saying. Citi Research reiterated rating at Buy. Taking into account continued improvement in N2 pricing and cost structure, as well as the Company's scale expansion in 2025, Citi Research expected an accelerated demand growth for AI and advanced nodes, which will make TSMC continuing to outperform the industry in growth. Citi Research also expected 2025 earnings to realize stronger YoY growth. Therefore, Citi Research raised its target price on TSMC's Taiwan stock to TWD1,030. AAStocks Financial News |
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