Tower Semiconductor price target raised to $66 from $60 at Benchmark

Benchmark raised the firm’s price target on Tower Semiconductor (TSEM) to $66 from $60 and keeps a Buy rating on the shares. Tower delivered “another solid quarter and outlook” as it continues to see strength in its AI Data Center levered business and a fast recovery in its RF Mobile business, the analyst tells investors. The firm applies a 25-times multiple to its new FY26 EPS estimate of $2.59, which it argues is “warranted given the company’s solid margin, earnings leverage and attractive FY26 earnings growth rate.”