Deutsche Bank Upgrades Taiwan Semiconductor (TSM) to Buy; Time To Get On Board

Deutsche Bank upgraded Taiwan Semiconductor (NYSE: TSM) from Neutral to Buy. PT increased from NT$73 to NT$84.

Deutsche analyst says, "We are raising our EPS forecasts by 7% to NT$7.30 for 2012 and 3% to NT$8.08 for 2013, to reflect an enriched 28nm customer/product profile and enhanced pricing power. We expect multiple robust growth drivers in 2012-13, including 1) 28nm application processors for high-end smartphones and tablet PCs, 2) 45/40nm mid/low-end smartphone chips, and 3) 40/28nm APU."

For more ratings news on Taiwan Semiconductor click here and for the rating history of Taiwan Semiconductor click here.

Shares of Taiwan Semiconductor closed at $12.18 yesterday.

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