Benchmark raised the firm’s price target on Tower Semiconductor (TSEM) to $230 from $165 and keeps a Buy rating on the shares. The firm views Tower’s announcements yesterday regarding its planned TPSCo restructuring and the related 300mm expansion in Japan as “strategically incrementally positive but not near-term estimate changing,” the analyst tells investors. The firm thinks investors should frame “the tangible capacity opportunity as 2028-2029 at the earliest,” the analyst added.
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Read More on TSEM:
- Tower Semiconductor, Nuvoton to Restructure TPSCo Fabs in Japan
- Tower Semiconductor to Take Full Control of Japan 300mm Fab and Plan Major Capacity Expansion
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