Susquehanna Downgrades GLOBALFOUNDRIES to Neutral, Lowers Price Target to $48
Portfolio Pulse from Benzinga Newsdesk
Susquehanna analyst Mehdi Hosseini downgraded GLOBALFOUNDRIES (NASDAQ:GFS) from Positive to Neutral and reduced the price target from $65 to $48.
March 05, 2024 | 1:46 pm
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NEGATIVE IMPACT
GLOBALFOUNDRIES downgraded from Positive to Neutral by Susquehanna, with a price target cut from $65 to $48.
The downgrade from Positive to Neutral by a significant analyst, along with a substantial reduction in the price target, is likely to negatively impact investor sentiment and the short-term stock price of GLOBALFOUNDRIES. Analyst ratings and price target adjustments are critical factors that investors consider, and such a downgrade could lead to a decrease in stock price as market participants reassess the company's future growth prospects and valuation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100