TSM - Nvidia Apple Supplier TSMC Stock Surges In Pre-Market After Morgan Stanley Raises Price Target Ahead Of Earnings | Benzinga
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) saw a pre-market boost on Monday after Morgan Stanley joined a growing list of brokers raising their price targets on the chipmaker ahead of its earnings report.
What Happened: In the U.S., TSM shares were trading at $190.92, a 3.77% increase from its Friday close of $183.99, as per Benzinga Pro. Meanwhile, TSMC’s shares in Taipei leaped as much as 4.5%, pushing its year-to-date rally to over 75%.
Morgan Stanley upped its target on the stock by roughly 9%, predicting that TSMC will raise its full-year sales forecast in the upcoming earnings announcement, Bloomberg reported. The brokerage also anticipates TSMC to increase wafer prices due to its robust bargaining power.
“TSMC’s ‘hunger marketing’ strategy appears to be effective,” Morgan Stanley analysts, including Charlie ...