TSMC price target raised to NT$600 from NT$550 at Loop Capital

Loop Capital analyst Charles Park raised the firm’s price target on TSMC to NT$600 from NT$550 and keeps a Buy rating on the shares. The company’s Q1 results were "mixed" with softer revenue offset by the better-than-expected margins on cost controls and Q2 outlook that was weaker than expected, the analyst tells investors in a research note. The firm adds however that in spite of the challenging demand outlook near term, TSMC is better positioned to weather the slowdown and should benefit from the structural growth in semis longer term.