Tower Semiconductor price target raised to $60 from $54 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Tower Semiconductor (TSEM) to $60 from $54 and keeps a Buy rating on the shares. The firm notes the company’s strong Q4 outlook drove a relief rally in the stock that it thinks is mostly deserved and was driven by the RF Infrastructure segment, which is the most important at this time. However, Craig-Hallum has moderated its 2025 outlook in sales and in gross margin.