GlobalFoundries price target raised to $67 from $60 at Deutsche Bank

Deutsche Bank analyst Ross Seymore raised the firm’s price target on GlobalFoundries to $67 from $60 and keeps a Buy rating on the shares. The company delivered a "solid" Q3 report and Q4 guide, but investor attention is focused on macro headwinds intensifying heading into 2023 as a wide array of fabless semiconductor companies have recently lowered their forward guides, Seymore tells investors in a research note. He continues to believe GlobalFoundries’ share price can remain resilient.