Tower Semiconductor price target raised to $300 from $140 at Wedbush

Wedbush raised the firm’s price target on Tower Semiconductor (TSEM) to $300 from $140 and keeps a Neutral rating on the shares. The firm views the company’s Q1 results and commentary as positive, and it very much acknowledges it missed the velocity of the ongoing transition to optical datacenter networking when it made the decision to shift to a Neutral view on the stock late last year.