Benchmark analyst Cody Acree initiated coverage on Tower Semiconductor Ltd. (NASDAQ:TSEM) with a Buy Rating and a $36 price target. The analyst believes that Tower Semiconductor is an undervalued, high-growth, high-cash-flow, and lesser-known specialty semiconductor outsourced manufacturing company. The company is strategically positioned to participate in and become the leader in designing and manufacturing many of the economy's newest technologies. The analyst expects the company to return to annual growth of about 8% in 2024.