Fly News Breaks for March 3, 2020
Mar 3, 2020 | 09:22 EDT
Needham analyst Rajvindra Gill lowered the firm's price target on TowerJazz to $27 from $30 citing the company's indirect exposure to the smartphone supply chain through its RF customers amid the spread of the negative impact from the coronavirus. The analyst still keeps a Buy rating on the shares however, anticipating the 100G SiGe ramp to be powerful and long-lasting, with added benefits for the company coming from 5G infrastructure rollout and smartphone RF content growth.
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