B of A Securities Downgrades GLOBALFOUNDRIES to Neutral, Lowers Price Target to $65
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Vivek Arya has downgraded GLOBALFOUNDRIES (NASDAQ:GFS) from Buy to Neutral and reduced the price target from $70 to $65.
December 15, 2023 | 1:25 pm
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NEGATIVE IMPACT
GLOBALFOUNDRIES downgraded by B of A Securities from Buy to Neutral with a price target decrease from $70 to $65.
Downgrades by analysts can lead to a negative perception among investors and potentially cause a short-term decline in the stock price. The reduction in the price target further suggests a tempered expectation of the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100