Tower Semiconductor price target raised to $60 from $55 at Benchmark

Benchmark raised the firm’s price target on Tower Semiconductor (TSEM) to $60 from $55 and keeps a Buy rating on the shares after the company posted “a strong September print and gave an even better December outlook.” For a company that “rarely posts blowout quarters or highly surprising guidance,” Tower provided a much better than expected forecast for December, the analyst tells investors.