Taiwan's biggest passive components maker is roaring back toward its old highs, and foreign brokers think it still has a long way to run.

• Nation Silicon (國巨) shares jumped nearly 3% to close at NT$521, after touching NT$530 during the day.
• Morgan Stanley reaffirmed a "buy" rating and raised its price target to NT$1,050, more than double the current price.
• The company's preliminary third-quarter revenue beat expectations, with profit estimates also coming in strong, thanks to booming demand for AI and server components even as PC and consumer electronics demand stays weak.
• The stock had been hit hard earlier this year, getting cut in half during a broader market selloff, which makes the current rebound notable.
• Taiwan's main stock index also rose Monday, briefly topping 46,500 points before paring gains, while memory chip stocks like Nanya Technology and Powerchip jumped on hopes that excess inventory is finally clearing.

Outlook: Nation Silicon's earnings call later this week will be the key test of whether it can keep climbing toward the four-digit price level analysts are predicting.