BOCI Raises Taiwan Semiconductor Manufacturing Company Ltd. TP to USD560, Reiterates Buy
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BOCI has raised its target price for Taiwan Semiconductor Manufacturing Company Ltd.to USD560, maintaining a Buy rating. The company reported April sales of TWD410.7 billion, indicating strong demand driven by AI applications. BOCI forecasts a capex of USD70 billion and USD80 billion for 2027 and 2028, respectively, focusing on expansion. The 2027 EPS forecast has been increased by 7% to TWD126.92, reflecting confidence in the company's execution capabilities and suggesting that any share price pullback should be seen as a buying opportunity.
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