Preserving Pricing Power: Analyst Anticipates TSMC's Announcement of Capital Expenditure Cuts in Upcoming Earnings
Portfolio Pulse from Anusuya Lahiri
Needham analyst Charles Shi reiterates a Buy rating for Taiwan Semiconductor Manufacturing Company Ltd (TSM) and raises the price target from $110 to $118. Shi anticipates TSMC will announce capital expenditure cuts in its upcoming earnings call, which he believes will preserve the company's pricing power.
June 01, 2023 | 5:30 pm
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Needham analyst Charles Shi raises TSMC's price target to $118, expecting the company to announce capital expenditure cuts in its upcoming earnings call.
The analyst reiterates a Buy rating for TSMC and raises the price target, indicating a positive outlook for the stock. The anticipated capital expenditure cuts are expected to preserve TSMC's pricing power, which could lead to a short-term increase in the stock price.
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