Analysts update TSMC stock price target

Core Insights - The ongoing AI boom is significantly driven by advanced semiconductors, with Taiwan Semiconductor Manufacturing Company (TSM) being a key player alongside Nvidia [1] - TSM has seen a remarkable 80.43% year-to-date increase in its stock price, reaching $183.34 per share, and is expected to maintain strong performance [1] Stock Performance and Analyst Ratings - TSM has a perfect 'strong buy' score from all 11 analysts on TipRanks, indicating strong market confidence [3] - Barclays set a price target of $170 for TSM on June 5, which has since become outdated as the stock price has risen, indicating a potential 5% downside from the target [3] - The average price target for TSM is currently $170.33, with the highest target reaching $200, reflecting bullish sentiment among analysts [5] - Bank of America maintains a 'buy' rating for TSM, despite a recent price target of $180 becoming bearish due to rapid stock price changes [6] - Susquehanna raised its price target for TSM from $180 to $200, citing strong demand and expected revenue growth of 28% for 2024 [7] - Bernstein also increased its target from $150 to $200, highlighting TSM's full capacity for N3 and N5 technologies and the demand for its CoWoS technology [7]