Needham analyst Charles Shi raised the firm’s price target on TSMC to $168 from $133 and keeps a Buy rating on the shares. The firm is reducing its FY24 EPS view to $6.20 from $6.41 and warns that the company might be seeing some short-term production delays and wafer losses related to the Taiwan earthquake, which could hurt June-quarter sales, the analyst tells investors in a research note. Needham adds however TSMC should make up most of the lost sales in Q3 and meet its full-year growth targe, also calling the stock “one of the best AI pick-and-shovel stories”.
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