Market Overview

UPDATE: Credit Suisse Upgrades Taiwan Semiconductor Manufacturing to Outperform

Related TSM
Industry Sources Report Qualcomm, MediaTek Seeking Additional 28nm PolySiON Production Capacity at United Microelectronics
Worst Performing Industries For August 5, 2014

Credit Suisse raised its rating on Taiwan Semiconductor Manufacturing (NYSE: TSM) from Neutral to Outperform.

Credit Suisse said, "Momentum continues in 2013. We believe 2013 is promising due to (1) earlier pull-in of high-end processors, (2) second wave of 28nm multi-core for China smartphones/tablets, and (3) and aggressive cost reductions to sustain margins. … We see urgency to ramp a 28nm project which we believe is likely Apple from 2Q13 and pull in Apple to 5% of 2013 sales (20% allocation) and 12% of 2014 sales (35% allocation), with upside if iPhone shifts to TSMC."

Taiwan Semiconductor Manufacturing closed at $17.05 on Thursday.

Latest Ratings for TSM

DateFirmActionFromTo
Apr 2013Morgan StanleyDowngradesOverweightEqual-weight
Feb 2013Bank of AmericaUpgradesUnderperformBuy
Dec 2012Credit SuisseUpgradesNeutralOutperform

View More Analyst Ratings for TSM
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (TSM)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters