Citi raised Taiwan Semiconductor’s price target, citing robust AI chip demand and improved 2026 revenue growth outlook.
Citi reiterated a Buy rating on Taiwan Semiconductor Manufacturing Co. (TSM) and raised its price target to NT$3,800 from NT$2,875. The move reflects confidence in the company’s ability to capitalize on rising demand for advanced AI chips and stronger wafer pricing into next year.
The firm expects TSMC to benefit from its leadership in N2 and N3 process technologies, as well as its competitive edge in manufacturing scale and advanced packaging. Prior forecasts had not accounted for the current surge in AI-related demand, which is now driving upward revisions.
TSMC’s revenue growth outlook for 2026 has gained clarity, with AI demand extending beyond graphics processors to broader advanced process technologies. The bullish stance underscores Wall Street’s optimism about the company’s long-term earnings potential.