Barclays, D.A. Davidson and TD Cowen lift TSMC price targets after Q2 results

Three brokers raised their TSM price targets the day after the Q2 report. Barclays moved its target to US$650 from US$625 and kept Overweight, D.A. Davidson went to US$500 from US$450 with a Buy, and TD Cowen moved to US$440 from US$400 with a Hold. The changes came despite the ADR slipping about 2.4% to US$399.80 intraday, which put it below US$400 for the first time in nearly two months.

• Barclays: target US$650 (from US$625), Overweight
• D.A. Davidson: target US$500 (from US$450), Buy
• TD Cowen (Krish Sankar): target US$440 (from US$400), Hold
• TSM ADR down 2.43% to US$399.80 intraday on the day