Susquehanna analyst Mehdi Hosseini raised the firm’s price target on GlobalFoundries to $50 from $48 and keeps a Neutral rating on the shares. The firm said although 2Q24 will most likely mark the trough in its quarterly EPS, it is the pace of recovery and lack of confidence in content growth/new product ramps that keep the firm on the sidelines
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GFS: