Taiwan Semiconductor (TSM) was in focus on Friday as DA Davidson started coverage on the semiconductor foundry giant with a Buy rating and $450 price target.
Shares rose fractionally in premarket trading.
“We are initiating coverage of TSM with a BUY rating and a $450 price target based on what we believe is a compounding execution moat in leading edge manufacturing that’s translating into a durable, self-reinforcing advantage as AI compute demand scales through the gigawatt-gigacycle,” analysts at the firm wrote in a note to clients.
