Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) saw its price target raised to $330.00 from $290.00 by Bernstein SocGen Group, maintaining an “Outperform” rating. The firm cites CoWoS ramp, AI demand, and pricing power as key drivers of growth. CoWoS capacity will drive revenue growth toward TSMC’s 5-year AI target. The firm forecasts TSMC’s revenue to grow 23% this year and 20% in 2027. Bernstein believes TSMC is a quality compounder, projecting a 1-year price target at NT$1,800.00 on 20x forward P/E. They view TSMC as a core holding for investors.

TSMC’s increased CoWoS capacity to 125K wpm by the end of 2026, combined with contributions from OSATs, will bring total CoWoS capacity to 1250K/yr in 2026. The firm anticipates these numbers will support projects like an estimated $0.5 trillion from Blackwell and Rubin for NVIDIA in 2025 and 2026. They also highlight improving mature-node demand and development on N2 node and price increases on N3/5 nodes to support smartphone revenue.

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Read more at Yahoo Finance: TSM Seen as a “Quality Compounder” With Multi-Year AI Upside, Says Bernstein