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Fly News Breaks for July 30, 2018
TSEM
Jul 30, 2018 | 07:41 EDT
Needham analyst Rajvindra Gill lowered his price target on TowerJazz to $28 after its earnings miss, saying he underestimated the ongoing weakness in the mobile market. The analyst also kept his Buy rating on the stock and believes that the company's long-term growth drivers are intact heading into Q4 and FY19. Gill sees an approaching bottom in RF and also anticipates SiGe and 300mm ramps to start in Q4, leading to improvement in gross margins.
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