Taiwan Semiconductor Manufacturing Stock Has 21% Upside, According to 1 Wall Street Analyst
The emergence of artificial intelligence (AI) over the past year has lit a fire under Taiwan Semiconductor Manufacturing (NYSE: TSM), or TSMC, as it's often called. The stock is up 58% over the past 12 months, which has some investors wondering if it's run too far, too fast, with limited upside ahead.
One Wall Street analyst believes the stock has further to run.
Needham analyst Charles Shi increased his price target on TSMC to $168 while maintaining a buy rating on the stock. This represents a potential upside of 21%, compared to the stock's closing price on Wednesday.
Source Fool.com