Cantor Affirms Overweight on GlobalFoundries, $90 Price Target
- Rating
- Buy
- Unchanged
- Target
- $90
- Unchanged
- Upside
- +85%
- GFS at $48.76 today
What the analyst said
Cantor Fitzgerald analyst C.J.
Muse reiterated an Overweight rating and $90 price target on GlobalFoundries Inc.
(NASDAQ: GFS).
“GF was selected as the technology provider and operator for two new 300mm fabs in Malta, NY under a U.S.-Japan initiative providing up to $21B (~$10B for fab one, online in 2029; ~$10B for fab two).
Crucially, Japan funds and owns the fabs via an SPV, with GF earning technology, construction, operating, and EBITDA-sharing fees over a minimum 20-year deal term.
Not only is this investment bringing online significant new U.S. capacity (~10% of total U.S. wafer capacity), GF is able to benefit from the increased production without the capital investment; additive to GF’s existing growth plans.
Recall, we had flagged CY27 as an investment year with capex >20% of revs.
For this project, mgmt. guided ~$50M of CY27 revs with +30-50bps GM, +100-200bps OM, and +$0.10-0.15 EPS, scaling to +100-200bps/+200-300bps of annual GM/OM and +$0.50-0.75 of annual EPS longer term, plus ~$3B of cumulative adjusted FCF over the first 10 years.
Put simply, that is ~8-13% upside to the $6.00 CY30 target model as the fabs ramp, supporting our view that $6 is a base-case with upside closer to ~$7.
Add in $955M of reallocated CHIPS funds for SiPho/SiGe/AP and customer endorsement from Apple, GM, Renesas, and Cirrus Logic and we view today as a clear positive.
We reiterate our Overweight rating and $90 PT.”
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Where the price stands
GFS trades at $48.76. The 7 analysts who set a target in the last 3 months range from $51 to $140, with a median of $60. This $90 target is 50% above the median.
12-month window: day 0 of 365, closes on October 15, 2027.
Track record
This callOpen: GFS has not reached $90 yet. This 12-month target is scored on September 8, 2027. Same target as this firm’s September 8, 2026 note, so it is scored there.
Firm track recordCantor: 85% of its 27 targets at least a year old were reached within 12 months (#10 of 25 firms). Accuracy ranking →
Cantor on GlobalFoundries
Cantor price targets on GlobalFoundries
4 calls from May 4, 2026 to October 15, 2026. The target went from $80 to $90 (+13%). The rating stayed Buy.
- October 15, 2026 This noteKept the $90 targetBuy$90
- September 8, 2026Target cut from $100 (−10%)Buy$90
- May 8, 2026Target raised from $80 (+25%)Buy$100
- May 4, 2026Earliest call shownBuy$80
