Reported 2 months ago
Morgan Stanley has named Taiwan Semiconductor Manufacturing Co. (TSMC) as a 'top pick' following a historic drop in its stock price amid a global market downturn. Analysts from Morgan Stanley highlighted TSMC's quality and strong defensive capabilities during a semiconductor market slump, describing the current valuation as attractive. Following the selloff, TSMC's shares rebounded by 7.1%, and the analysts set a price target of 1,220 Taiwan dollars, representing a significant upside from the recent closing price.
Source: YAHOO