Taiwan Semiconductor Manufacturing Stock Has 28% Upside, According to 1 Wall Street Analyst

The chip industry is bottoming out, setting the stage for growth in 2024.Shares of Taiwan Semiconductor Manufacturing (TSM -0.90%) are trading up 34% year to date, and Susquehanna analyst Mehdi Hosseini sees more upside now that the chip industry is in recovery mode. The analyst maintained a positive (buy) rating on the shares, raising the price target from $160 to $180. The new target represents an upside over the next 12 months or so of nearly 28% compared to the current share price.Here's why the analyst ...