08:30 AM EDT, 06/06/2025 (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:

Despite TSM's price recovery of 44% from its bottom in April, we note that the stock is still trading below its initial recorded high in January. With valuation largely undemanding, we believe there is still upside for the stock and keep our Buy call. We raise our target price to USD240 (from USD199) as we roll over our valuation base year forward, now implying 21x our 2026 EPS forecast (from 22x 2025 EPS previously). The valuation remains above TSM's five-year average P/E of 19.5x, which we believe fairly balances our EPS growth rate projection of above 15% p.a. in 2025-2026 with the heightened earnings downside risk due to uncertain geopolitical, trade, and macroeconomic conditions. We keep our EPS forecasts unchanged at TWD292.01 for 2025 and TWD341.67 for 2026, mainly supported by revenue growth forecast of 26%/15% (crypto mining, AI accelerators, and flagship SoC driving advanced node orders) and a 2.8%-pts bump in OP margin in 2025 (mainly on N3/N5/CoWoS price hike).