Craig-Hallum raised the firm’s price target on Tower Semiconductor to $40 from $33 and keeps a Buy rating on the shares. The firm notes that Tower’s Q1 guide in-line with consensus is a relief relative to a foundry peer that missed by a lot. Combined with management’s comments about growing well in the second half of 2024 and hopefully showing growth in 2024, it is a strong indication of Tower Semiconductor’s improvement as it goes into 2025, Craig-Hallum adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on TSEM:
- Tower Semiconductor (NASDAQ:TSEM) Soars after Exceeding Q4 Expectations
- Tower Semiconductor reports no damage to buildings following Japan earthquake
- Tower Semiconductor announces strategic consolidation of Fab 1 activities
- Tower Semiconductor sees Q1 revenue $325M +/- 5%, consensus $325.11M
- Tower Semiconductor reports Q4 adjusted EPS 55c, consensus 52c
