Tower Semiconductor Analysts Boost Their Forecasts Following Better-Than-Expected Q1 Earnings
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Tower Semiconductor Ltd. (NASDAQ:TSEM) reported strong Q1 results, with revenue of $413.63 million, exceeding expectations. Adjusted earnings were 65 cents per share, surpassing forecasts. The company raised its Q2 guidance, expecting revenue between $432.25 million and $477.75 million. Analysts have adjusted their price targets, with Wedbush raising it to $300, Susquehanna to $330, and Benchmark to $335. Shares rose 2.3% to $17.32 following the announcement.
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