Key insights
- Morgan Stanley upgraded SCREEN Holdings (7735.JP) to Overweight, citing its undervaluation and the expansion plans of its largest customer, TSMC (TSM). The analyst firm raised its price target and earnings estimates for SCREEN, driven by TSMC's projected increase in N3 production capacity by 2026. This upgrade suggests positive sentiment for key players in the semiconductor supply chain, potentially benefiting related US technology companies and the broader semiconductor sector.
Investing.com - Morgan Stanley has upgraded SCREEN Holdings Co Ltd. (7735:JP) (OTC:DINRF) from Equalweight to Overweight while raising its price target to JPY15,500.00 from JPY15,200.00.
The upgrade follows a recent decline in SCREEN Holdings’ share price, which Morgan Stanley now views as undervalued relative to the company’s prospects.
A key factor in the upgrade is Taiwan Semiconductor Manufacturing Company’s (TSMC) expected expansion of its N3 production capacity by 2026, according to Morgan Stanley’s analysis.
TSMC is SCREEN Holdings’ largest customer, making the semiconductor giant’s production plans particularly significant for SCREEN’s business outlook.
Morgan Stanley has revised its earnings estimates upward for SCREEN Holdings in conjunction with the rating change and price target increase.
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