Why Has Oppenheimer Given TowerJazz (NASDAQ:TSEM) a $20 Price Target
Oppenheimer analyst have initiated coverage on TowerJazz (NASDAQ:TSEM) with a $20 target PPS and Outperform rating. The target PPS would possibly suggest a potential upside of 40.75% from firm’s current price.
From a total of 3 analysts covering TowerJazz (NASDAQ:TSEM) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that 100% of the ratings are positive. TowerJazz was the topic of 2 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Drexel Hamilton initiated shares on October 20 with “Buy” rating.
The stock closed the day at $14.21 during the previous session. It is down 13.35% since May 12, 2015 and is downtrending. It has underperformed by 9.68% the S&P500.
Tower Semiconductor Ltd. operates as an independent semiconductor foundry focused primarily on specialty process technologies. The company has a market cap of $1.11 billion. The Firm focuses on producing integrated circuits based on the design specifications of its customers. It currently has negative earnings. It makes semiconductors for its clients primarily based on third-party designs.
According to Zacks Investment Research, “Tower Semiconductor Ltd. is an independent manufacturer and service provider of semiconductor integrated circuits on silicon wafers. They provide IC design, manufacturing and turnkey services using advanced production capabilities and the proprietary IC designs of their customers, and are specializing in providing solutions for embedded non-volatile memory devices and CMOS image sensors. (press release)”