There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Taiwan Semi (TSM – Research Report) and Gitlab (GTLB – Research Report) with bullish sentiments.
Taiwan Semi (TSM)
Needham analyst Charles Shi reiterated a Buy rating on Taiwan Semi today and set a price target of $110.00. The company’s shares closed last Friday at $78.07.
According to TipRanks.com, Shi is ranked 0 out of 5 stars with an average return of -11.1% and a 23.7% success rate. Shi covers the Technology sector, focusing on stocks such as Altair Engineering, Cadence Design, and Formfactor.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Taiwan Semi with a $104.00 average price target.
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Gitlab (GTLB)
In a report released today, Mike Cikos from Needham maintained a Buy rating on Gitlab, with a price target of $60.00. The company’s shares closed last Friday at $38.73, close to its 52-week low of $30.74.
According to TipRanks.com, Cikos is ranked 0 out of 5 stars with an average return of -12.2% and a 20.2% success rate. Cikos covers the Technology sector, focusing on stocks such as DigitalOcean Holdings, Cognyte Software, and Tenable Holdings.
Gitlab has an analyst consensus of Strong Buy, with a price target consensus of $60.38, which is a 55.3% upside from current levels. In a report issued on January 5, Piper Sandler also maintained a Buy rating on the stock with a $58.00 price target.
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