Benchmark Reiterates Buy Rating on Tower Semiconductor (TSEM)

Benchmark analyst Cody Acree reiterated a Buy rating and $335.00 price target on Tower Semiconductor (NASDAQ: TSEM).

The analyst commented, "The shares’ reversal from a hard pre-market selloff to positive territory better reflects the operating result than the opening move. In our opinion, the initial pressure was driven by contemporaneous speculation that the FCC may restrict Chinese-made optical transceivers, creating perceived exposure through China-based module customers such as InnoLight and Eoptolink. Management declined public comment. The stock improved as investors separated that unconfirmed policy risk from Tower’s record guide, SiPho conversion and margin leverage; the fact that the FY28 model and Japan expansion had already been disclosed in July also limited the amount of genuinely new strategic news."

For an analyst ratings summary and ratings history on Tower Semiconductor click here. For more ratings news on Tower Semiconductor click here.

Shares of Tower Semiconductor closed at $239.53 yesterday.

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