DBS Maintains Buy Rating on TSMC (TSM) with $346 PT

Core Viewpoint - Taiwan Semiconductor Manufacturing Company (TSMC) is projected to double in value over the next three years, supported by strong demand for its chips, particularly from the AI sector [1][2]. Group 1: Analyst Ratings and Price Targets - DBS analyst maintains a Buy rating on TSMC with a price target of $346.00 [1][2]. - Barclays analyst Simon Coles raised the price target for TSMC to $355 from $330, maintaining an Overweight rating [1][2]. Group 2: Financial Performance and Market Demand - TSMC reported strong Q3 2025 results, indicating a robust outlook for 2026 [2]. - The demand for TSMC's chips, especially from AI applications, is strengthening faster than previously anticipated [2]. Group 3: Company Overview - TSMC, along with its subsidiaries, manufactures, packages, tests, and sells integrated circuits (ICs) and other semiconductor devices across various regions including Taiwan, China, Europe, the Middle East, Africa, Japan, and the US [3].