11:30 AM EDT, 10/16/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price to USD360 from USD295, reflecting 2026 P/E of 28.7x. The 25% premium to our valuation of TMSC's mother share of 23.0x is justified by greater liquidity and heightened visibility in the U.S. tech narrative. Following the strong earnings beat in Q3 2025, we raise our earnings per ADS forecasts by 10% for both 2025 and 2026, to TWD329.45 and TWD380.60, respectively. TSMC's Q3 2025 results reinforce our Buy rating, with revenue of TWD989.9bn (+30% Y/Y) and net profit of TWD452.3bn (+39% Y/Y) both well ahead of consensus. Margins expanded further, with gross margin at 59.5% and operating margin at 50.6% underscoring strong cost control and operating leverage despite FX headwinds. Net cash rose to TWD1.76trn, supporting capex of USD9.7bn and healthy free cash flow. With leadership in advanced nodes and AI-driven demand, we see sustained earnings growth and the premium valuation as justified.