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Fly News Breaks for January 15, 2016
TSEM
Jan 15, 2016 | 08:14 EDT
Drexel Hamilton analyst Cody Acree is hosting a call with Tower Semiconductor CEO Russell Ellwanger. The analyst said a short report on Thursday had flawed conclusions and claimed Tower is operating under a "questionable business strategy", and that its Panasonic JV was somehow more about financial engineering, and stock promotion, than in the best interest of shareholders. Acree believes the author's interests were self-serving and recommends investors use Friday to take advantage of the price pullback and reiterate his Buy rating and our $28 target price.
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