Benchmark Co. analyst Cody Acree has reiterated their bullish stance on TSEM stock, giving a Buy rating yesterday.
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Cody Acree has given his Buy rating due to a combination of factors influencing Tower Semiconductor’s strong market position and growth potential. The company has demonstrated robust performance, particularly in its AI Data Center and RF Infrastructure segments, showing significant sequential and year-over-year growth. These results not only met but exceeded market expectations, highlighting Tower’s ability to navigate through challenging market cycles effectively.
Despite some anticipated declines in its Mobile business due to market weaknesses, Tower’s strategic focus on expanding its Silicon Photonics and Silicon Germanium capacities is noteworthy. The company’s leadership in these technologies positions it to benefit from the increasing investments in AI Data Center infrastructure. With encouraging projections for future revenue growth and enhanced visibility into its market opportunities, Acree remains optimistic about Tower’s potential to capitalize on emerging industry trends, justifying the Buy rating and a price target of $60.