DA Davidson Gives Taiwan Semiconductor (TSM) a Buy Rating, BofA Stays Bullish

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the 15 AI Stocks That Are Skyrocketing. On February 12, DA Davidson initiated coverage of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), giving the stock a Buy rating and setting the price target at $450.

DA Davidson pointed to the company’s “compounding execution moat in leading edge manufacturing” that it sees as a “durable, self-reinforcing advantage” as AI compute demand grows. The research firm noted that Taiwan Semiconductor Manufacturing Company Limited’s (NYSE:TSM) competitive advantage comes from its ability to “repeatedly industrialize architectural transitions into predictable, high volume platforms.” DA Davidson pointed out that customers ultimately value goods being delivered on time.

According to the research firm, competitors may be able to match certain features “on paper.” However, Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) stands out because of its ability to convert new devices and power architecture into “high yield, high throughput manufacturing with validated enablement and predictable ramps.”

On February 11, BofA Securities also reiterated its Buy rating on Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) with a price target of $470 on the stock.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a Taiwanese multinational semiconductor contract manufacturing and design company that manufactures, packages, and tests integrated circuits for various industries.

READ NEXT: 12 Best Oil and Gas Stocks to Buy Right Now and 10 Best AI Software Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.