Goldman Sachs sets TSMC ADR target at NT$16,443 as advanced capacity stays tight

Taiwan News reported on February 20, 2026 that Goldman Sachs set a new TSMC ADR target of NT$16,443, the highest target it cited. Goldman pointed to strong AI demand, ongoing supply-demand imbalances and limited advanced manufacturing capacity it expects to persist until 2027. The prior target and rating are not given, so the size of the change cannot be confirmed.

• New target NT$16,443 per ADR (Goldman Sachs)
• Drivers: strong AI demand and supply-demand imbalance
• Advanced manufacturing capacity expected to stay limited until 2027
• ADRs hit record highs during the Lunar New Year break, per the same report