Cantor Reiterates Overweight on GlobalFoundries, $90 PT
Cantor Fitzgerald analyst C.J.
Muse reiterated an Overweight rating and $90 price target on GlobalFoundries Inc.
(NASDAQ: GFS).
“Foundry capacity continues to get tighter, with our work suggesting no real end in sight.
We are hearing TSMC is increasing pricing +HSD% across the board (generally echoing what we have heard from GFS), and is undersupplying market demand by ~15-20% today.
We are also hearing strong and increasing visibility for TSMC into CY27/28 led by seven $10B+ customers (NVDA, AAPL, AMD, AVGO, QCOM, AWS, GOOGL) – with similar trends occurring at foundry peers.
Specific to GFS, beyond these broader-based positive trends, we would highlight idiosyncratic opportunities across SiPho/SiGe (sold out today; capacity to support ~$4B of biz vs ~$400-450M today), recent acquisitions driving non-semi revs, ASP increases starting January 1st, TSMC deemphasizing 55nm.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
