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Fly News Breaks for November 14, 2019
Nov 14, 2019 | 09:06 EDT
Craig-Hallum analyst Richard Shannon raised his price target for TowerJazz to $32 from $24 and reiterated a Buy rating following the company's in-line Q3 results and largely in-line Q4 guidance, saying the company's strong gross margin is the first real proof of strong leverage from 300mm capacity. Shannon says TowerJazz can drive increasing leverage as 300mm continues to fill up, and sees the stock driving higher valuations from this.
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