Morgan Stanley named TSMC as a “Catalyst Driven Idea” ahead of the company holding its Q3 earnings call on October 19. Some investors are still concerned about the macro environment, China’s economy and a prolonged semi down-cycle, so the analyst contends that any constructive commentary from TSMC with Q3 results about a cycle recovery could be a catalyst for the market. The firm, which thinks TSMC’s Q4 revenue guidance “may surprise to the upside,” has an Overweight rating and NT$718 price target on the shares.
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