Raymond James Keeps Their Buy Rating on GlobalFoundries Inc (GFS)

Raymond James analyst Melissa Fairbanks maintained a Buy rating on GlobalFoundries Inc (GFSResearch Report) today and set a price target of $70.00. The company’s shares closed yesterday at $55.67.

Fairbanks covers the Technology sector, focusing on stocks such as Micron, Plexus, and Advanced Micro Devices. According to TipRanks, Fairbanks has an average return of -1.5% and a 31.25% success rate on recommended stocks.

Currently, the analyst consensus on GlobalFoundries Inc is a Strong Buy with an average price target of $70.60, which is a 26.82% upside from current levels. In a report released today, Deutsche Bank also maintained a Buy rating on the stock with a $60.00 price target.

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GFS market cap is currently $30.05B and has a P/E ratio of 62.17.

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GLOBALFOUNDRIES Inc. is a semiconductor foundry. It manufactures complex ICs that enable electronic devices that are pervasive in every sector of the economy. It derives revenue primarily from fabricating semiconductor wafers using the company’s manufacturing processes for the company’s customers based on their proprietary integrated circuit designs and, from design, mask making, bumping, probing, assembly, and testing services.

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