Tower Semiconductor Analyst Raises Forecast On ‘Aggressive AI-Levered Demand’
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Tower Semiconductor Ltd (NASDAQ:TSEM) tanked in trading on Thursday, after the company reported upbeat third-quarter results.
The company reported strong results and announced higher-than-expected guidance on “aggressive AI-levered demand,” according to Benchmark.
Analyst Cody Acree reiterated a Buy rating on Tower Semiconductor while raising the price target from $55 to $60.
The Tower Semiconductor Thesis: The company reported sales of $371 million and earnings of 57 cents per share, higher than consensus of $370 million and 53 cents per share, respectively, Acree said in the note.
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