Morgan Stanley: Raises TSMC target price to 3380 New Taiwan dollars, maintains "outperform" rating.

Macquarie has raised the target price of TSMC's Taiwan stock from NT$2,550 to NT$3,380, an increase of 33%, while maintaining an "outperform" rating. The report states that TSMC can take advantage of strong demand and continue to provide better efficiency for customers, thereby successfully raising prices regularly. The report also points out that TSMC is systematically phasing out mature processes in order to prioritize the development of advanced process manufacturing. This strategic shift not only optimizes limited wafer fab space, but may also lead to a significant increase in overall average selling prices.