Nomura Securities raises TSMC's target price to NT$3,425, with about a 46.4% upside potential from the current stock price.

Nomura Securities raised the target price of multiple AI semiconductor and hardware stocks. The most significant action is the increase of the target price of TSMC from 2,820 NT dollars to 3,425 NT dollars, corresponding to approximately 46.4% upside potential. Nomura Securities analysts believe that the AI infrastructure investment cycle has not yet peaked, with newly added data center capacity projected to reach about 32GW by 2027, driving continued demand for AI chips. In addition to TSMC, Nomura also raised the target prices of other AI semiconductor and hardware companies such as MediaTek, ASE, EMC, and ZDT.