Citigroup Maintains Buy on GLOBALFOUNDRIES, Lowers Price Target to $70
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Christopher Danely maintains a Buy rating on GLOBALFOUNDRIES (NASDAQ:GFS) but lowers the price target from $77 to $70.
August 09, 2023 | 11:40 am
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Citigroup maintains a Buy rating on GLOBALFOUNDRIES but lowers the price target from $77 to $70.
The news is directly related to GLOBALFOUNDRIES. While the Buy rating is maintained, the lowering of the price target might indicate a potential decrease in the short-term performance of the stock. However, the impact is neutral as the Buy rating suggests that the stock is still expected to perform well in the long run.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100