Major Banks Rating | Bank of Communications International: Maintains Buy Rating for TSMC, Target Price $468
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Glonghui, April 21 — Bank of Communications International maintains a Buy rating on TSMC (TSM.US) with a target price of $468: Q1 2026 results exceeded expectations, with strong AI demand driving 3nm capacity expansion and full-year revenue growth likely to exceed 30%. The 2026/27 EPS is raised to TWD 94.76/109.23, and the target price is based on 29 times the average 2026-27 PE, reflecting TSMC's leading edge in advanced manufacturing processes and long-term AI growth momentum.
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