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

Susquehanna analyst Mehdi Hosseini raised the firm’s price target on Tower Semiconductor (TSEM) to $66 from $60 and keeps a Positive rating on the shares. The firm updated its model following Q2 results and sll in all, its results, guide and commentary suggest the company is fast becoming the leading pure play Analog Foundry, particularly helping customers win in Si-Ge and Si-Ph. As such, the firm has incremental confidence in company’s near term earning power.