BofA Securities Raises TSMC Price Target to NT$3,260
- Rating
- Buy
- Target
- NT$3,260
- from NT$2,530 (+29%)
What the analyst said
BofA Securities analyst Haas Liu raised the price target on TSMC (2330:TT) (NYSE: TSM) to NT$3,260 (from NT$3,100) while maintaining a Buy rating.
“TSMC’s 3Q26 sales were above street +18% QoQ in NT$ and reached US$46.7bn (vs. its guide of US$44.6-45.8bn) which we believe should be driven by the builds for Apple’s mobile SoC and AMD’s server CPU on 2nm along with multiple GPU and ASIC product refreshes migrating to 3nm.
The mix upgrades could lift 4Q26 sales by +10-15% QoQ, putting it on track to the guidance for 40%+ YoY in ’26.
While utilization and pricing are favorable, GMs could hold steady in 3Q/4Q26 (BofAe 67.0%/67.8%) rather than expand (recent street 67-68%/68-69%) factoring dilution from 2nm and overseas fab ramps.”
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Track record
Firm track recordBank of America: 81% of its 21 targets at least a year old were reached within 12 months (#14 of 20 firms). Accuracy ranking →
Bank of America on TSMC
Bank of America price targets on TSMC
3 calls from April 13, 2026 to October 12, 2026. The target went from NT$2,530 to NT$3,260 (+29%). The rating stayed Buy.
- October 12, 2026 This noteTarget raised from NT$2,530 (+29%)BuyNT$3,260
- April 16, 2026Rating only, no price targetBuyNo target
- April 13, 2026Earliest call shownBuyNT$2,530
