《大行》野村上調臺積電臺股目標價至1,310元新臺幣 料全年收入增長或超出最新指引
野村發表報告,上調對臺積電(2330.TT)(TSM.US)臺股目標價,由1,280元新臺幣上調至1,310元新臺幣,維持「買入」評級。
該行指,臺積電第三季度收入指引爲按季增長6%至10%,超出該行高於市場預測的3%至7%;儘管市場預期全年收入預測可能上調,臺積電將全年增長預估提高至約30%,該行認爲以美元計實際數字可能達31%。該行指,管理層稱客戶偏好未見變化,理由是先進節點供應緊張,情況與該行觀點一致,即客戶目前更重視明年先進節點和封裝的戰略可供應性,而非關稅影響。
該行預計,明年底CoWoS封裝技術設備的引入計劃不會超過每月9萬至10萬片水平,效率提升可能帶來增量產出。該行對2奈米需求前景保持樂觀,考慮到蘋果(AAPL.US)或在明年全面採用其應用處理器系列,以及其他客戶如AMD(AMD.US)的強勁產品線轉移,將臺積電2025年至2027年每股盈利預測上調3%至5%。
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