U.S. brokerage expects TSMC shares to top NT$200

Taiwan News
Date: 2016-10-08
By: Jeffery Wu and Frances Huang, Central News Agency

A U.S.-based brokerage has predicted that shares of Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電), the world’s largest contract chip maker, will move above NT$200 (US$6.35) because of its advantage in high-end technology development.

In a research note released Friday, the brokerage said TSMC will likely begin mass production of chips using the sophisticated seven nanometer process in the fourth quarter of 2017, ahead of the first quarter of 2018 as was previously scheduled.

The faster-than-expected progress in developing the 7nm process will put TSMC in a dominant position in the technology and help it secure more orders, said the brokerage, which raised its target price for the stock to NT$205 from NT$178, and maintained an “outperform” recommendation.

Under Taiwanese regulations, CNA cannot report the names of foreign brokerages when they give price forecasts for specific stocks.     [FULL  STORY]

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