1 Wall Street Analyst Thinks Taiwan Semiconductor Stock Is Going to $240. Is It a Buy?

Shares of Taiwan Semiconductor Manufacturing (TSM -0.61%) are sitting close to their all-time high, and Barclays analyst Simon Coles sees more upside in the next year. Last week, the analyst maintained the firm's overweight (buy) rating on the stock but raised their price target from $215 to $240.Wall Street's price targets are not all that meaningful for long-term investors. But in this case, there is a meaningful catalyst that can send shares higher in the near term: artificial intelligence (AI). Here's w ...