Cantor Fitzgerald Upgrades GlobalFoundries to Overweight

Cantor Fitzgerald analyst C.J.

Muse upgraded GlobalFoundries (NASDAQ: GFS) from Neutral to Overweight with a price target of $80.00.

“In Terms of What to Expect, Look for a Two-Pronged Focus Between Today’s “Core Businesses” and Future Growth Opportunities Ahead: We expect a two-pronged focus from the GF management team diverged between what we describe as GF’s “core” portfolio and its future growth opportunities.

In the core portfolio, we highlight Smart Mobile, Automotive and Home and Industrial IoT which has shown stable to secular growth over the past several years which look to be steady growth drivers over the long-term.

In terms of growth opportunities, we highlight SiPho, Physical AI and SatCom, three areas where we expect significant focus from management.”

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