Title TSMC (2330 TT) Buy, TP raised to NT$383
  Compeq (2313 TT) Buy, TP: NT$50
  Iron Force Ind. (2228 TT) Buy, TP: NT$150
  Powertech Technology (6239 TT) Buy, TP: NT$114
  AU Optronics (2409 TT) Buy, TP: NT$10.9
  Ginko (8406 TT) Upgrade to Buy, TP: NT$235
  Airtac International (1590 TT) Buy, TP: NT$460
  Delta (2308 TT) Buy, TP: NT$162
  Formosa Plastics (1301 TT) Buy, TP: NT$110
  Micro-Star International (2377 TT) Buy, TP: NT$97
More Titles
Title:TSMC (2330 TT) Buy, TP raised to NT$383
Download File:2330 TT TSMC note 200117--sinopac_.pdf 
Summary: Raise TP to NT$383 (4.5x 2021F P/B); Maintain Buy: 1) Geopolitical issues will not prevent 5G progress; TSMC will leverage its technological advantage to piggyback on clients¡¯ growth; 2) TSMC¡¯s introduction of 5nm in 2020 will further secure the firm¡¯s industry leadership and help expand the potential market. Eyeing the company¡¯s rosy long-term outlook, we up our TP from NT$377 (4.5x 2021F P/B).
Register online at Become Member to receive Taiwan research services. For more information, contact TaiwanResearch.com. Tel (8862) 2316-5181
©2001, 2000, 1999 SinoPac All rights reserved. Additional copyright information applies.