- In an article embargoed until 9:07AM ET Saturday, SA Pro author/Zacks analyst Lisa Thompson ups her TowerJazz (NASDAQ:TSEM) target to $20 on account of the company's Q3 results.
- Thompson expects the Israeli foundry to benefit from JV partner Panasonic's imaging expertise, as well as from an ongoing trend among fab-owning chipmakers to outsource more of their production to foundries.
- Shares +11% since TowerJazz posted a Q3 EPS beat on Thursday morning. Q4 revenue guidance of $235M (+/- 5%) was below a $243.1M consensus at the midpoint.