Citigroup has lifted its price target for Taiwan Semiconductor Manufacturing Co (TSMC) by 32%, reaffirming a buy recommendation ahead of the company's upcoming earnings report.
The move signals growing confidence in the foundry's near-term outlook as investors brace for a pivotal week in the semiconductor sector.
The analyst upgrade comes as TSMC prepares to release quarterly results, a key data point for gauging demand in the AI and data-center chip markets.
Citi's adjustment reflects expectations that the company will provide optimistic forward guidance, reinforcing its position as the primary beneficiary of the ongoing infrastructure build-out for artificial intelligence applications.
TSMC's report is scheduled for the same day as earnings from Atlas Copco, adding to a busy calendar for global markets.
European equities are expected to open higher on Tuesday, with investors weighing developments in the Iran conflict alongside a slate of major corporate results.