Macquarie TSMC · TSM

Macquarie Raises TSMC Price Target to NT$2,550

1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
NT$2,550
from NT$2,400 (+6%)
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What the analyst said

Macquarie analyst Arthur Lai raised the price target on TSMC (2330:TT) (NYSE: TSM) to NT$2,550.00 (from NT$2,400.00) while maintaining an Outperform rating.

“AI pricing power now offsets the consumer electronics slump in 2026. N2 volume started in 2025; global N3 expansion underway with new fabs in Taiwan (1H27), US (2H27), and Japan (2028).

2026 capex is tracking at the US$56bn high end to lock in advanced tools and packaging for insatiable AI demand… Valuation: We lift our TP 6% to NT$2,550, from NT$2,400, based on an unchanged 21x 2027E PE target multiple, justified by a 37% EPS CAGR in 2024-28E.”

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Track record

Firm track recordToo early to score Macquarie: price targets are 12-month calls and fewer than 5 of its targets are a year old. 6 of its 11 open targets have already been reached. How we score

Earnings reactionOne of 9 notes after TSMC’s Apr 16 results: 3 raised · 0 cut · 1 kept. See every call →

Macquarie on TSMC

Macquarie price targets on TSMC

5 calls from January 16, 2026 to October 7, 2026. The target went from NT$2,400 to NT$4,410 (+84%). The rating stayed Buy.

Macquarie target
  1. October 7, 2026Target raised from NT$4,200 (+5%)BuyNT$4,410
  2. July 17, 2026Target raised from NT$3,380 (+24%)BuyNT$4,200
  3. June 22, 2026Target raised from NT$2,550 (+33%)BuyNT$3,380
  4. April 16, 2026 This noteTarget raised from NT$2,400 (+6%)BuyNT$2,550
  5. January 16, 2026Earliest call shownBuyNT$2,400
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Other analysts on TSMC

DA DavidsonBuy Kept rating and price target Oct 16 $500maintained Nomura/InstinetBuy Raised price target, kept rating Oct 16 BarclaysBuy Raised price target +1%, kept rating Oct 16 $670from $665 StifelBuy Raised price target +1%, kept rating Oct 15 $520from $515 Lynx Equity Kept rating and price target Oct 15 NT$3,000maintained
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.