《大行報告》高盛升台積電(TSM.US)目標價至163美元 評級「買入」
高盛發表研究報告,料全球晶圓代工市場在2021至2025年間年均複合增長達16%,受全球半導體行業增長加快,終端設備內含元件單價(dollar content)增長加快,以及新一輪提價所推動。該行上調2025年全球晶圓代工市場估算由1,390億美元,升至1,810億美元。
報告稱,全球半導體市場去年屬具標誌性一年,去年增長26%至5,560億美元,遠高於過去十年年均複合4%增幅。全球晶圓代工市場增幅更強,去年升31%至1,000億美元,遠高於過去十年年均複合10%增幅。特別的是,台積電(TSM.US)在1月業績會議進一步上調未來數年長期收入年均複合增長預測,由原先介乎10%至15%,升至介乎15%至20%。此外,公司在上一次分析員會議上調全球半導體市場(儲存芯片除外)指引,料未來五年市場增長加快至高單位數。
過去高盛曾料台積電明年將8英寸晶圓提價僅5%,該行維持原先預測,惟料明年12英寸晶圓銷售均價將上調4%。對於二線晶圓代工廠如聯華電子及世界先進,不排除該等廠商跟隨提價,不過現時該行估算未納入進一步提價的預期。
該行升台積電盈測,美股目標價由154美元升至163美元,評級「買入」。
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