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Fly News Breaks for November 8, 2019
Nov 8, 2019 | 08:18 EDT
Jefferies analyst Mark Lipacis noted that three of TowerJazz's (TSEM) customers - Qorvo (QRVO), Maxim Integrated (MXIM) and Inphi (IPHI)- as well as one its specialty foundry peers have reported better than expected Q3 revenues and Q4 outlooks, leading him to predict that TowerJazz will discuss positive business trends when it reports its September quarter results next week. The analyst thinks his Q4 EPS forecast, which is already above consensus, could prove conservative, he added. Lipacis is a buyer of TowerJazz shares ahead of the report, calling it his top small cap idea and reiterating a Buy rating with a $27 price target.
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