UPDATE: HSBC Upgraded Taiwan Semiconductor Manufacturing Company to Overweight
October 18, 2013 at 16:10 PM EDT
In a report published Thursday, HSBC Global Research Analyst Steven Pelayo upgraded Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM ) from Neutral to Overweight as excess inventories clear. TSMC posted a rise in 3Q net profit yesterday which surged 5.2% to $51.95B New Taiwan dollars ($1.77 billion). Revenue
