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Fly News Breaks for May 29, 2019
TSEM
May 29, 2019 | 09:00 EDT
After hosting investor meetings with the company's CEO, Jefferies analyst Mark Lipacis reiterates a Buy rating on TowerJazz Semiconductor. Management believes that Huawei trade restrictions will have a nominal near-term impact, Lipacis tells investors in a research note. The analyst lowered his 2019 and 2020 estimates by 10% to "derisk" his numbers, but he believes the cut is reflected in the stock. He reduced his price target for TowerJazz shares to $22 from $24.
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