UBS raised TSMC's target valuation, optimistic about capacity expansion and price increase expectations in the next three years.

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Odaily Planet Daily News: UBS raised its target price for TSMC, the global leader in wafer foundry, on Monday from NT$3,000 to NT$3,400, maintaining a "buy" investment rating. At the same time, the brokerage raised its overall sales growth forecast for TSMC for 2026, judging that the company's performance growth momentum has medium- to long-term sustainability, and predicting that the company is expected to start product price increases in early 2027, further boosting profitability.

UBS predicts that TSMC will continue to increase capital expenditure scale and implement multiple rounds of capacity expansion plans from 2026 to 2028, effectively alleviating industry pain points such as chip supply shortages and customer supply chain single-sourcing. Currently, the market demand for CPUs, AI accelerators, and edge intelligence applications continues to heat up, becoming the core driving force for the company's capacity expansion. (CLS)

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