Market News / Story
TSMC Stocks Drop 2% Despite Citi's NT$4,000 Target
GuruFocus ·
GuruFocus reports: Taiwan Semiconductor Manufacturing , the advanced-chip foundry, received a higher Citi price target, but its New York shares fell approximately 2.0% at 12pm EST to $472.535 on October 7. According to StreetInsider, Citi lifted its Taiwan-listed share target to NT$4,000 from NT$3,800 and maintained its Buy rating. That is a 5.3% increase. Investors still marked the ADRs lower. The operating numbers explain the optimism. TSMC's monthly revenue report puts August sales at…