Cantor Fitzgerald Downgrades GLOBALFOUNDRIES to Neutral, Lowers Price Target to $55
Portfolio Pulse from Benzinga Newsdesk
Cantor Fitzgerald analyst C J Muse downgraded GLOBALFOUNDRIES (NASDAQ:GFS) from Overweight to Neutral and reduced the price target from $70 to $55.
April 08, 2024 | 4:39 pm
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NEGATIVE IMPACT
GLOBALFOUNDRIES downgraded from Overweight to Neutral by Cantor Fitzgerald, with a price target reduction from $70 to $55.
The downgrade from Overweight to Neutral by a significant analyst firm like Cantor Fitzgerald, coupled with a substantial reduction in price target, is likely to negatively impact investor sentiment towards GLOBALFOUNDRIES in the short term. This could lead to a decrease in stock price as market participants adjust their expectations based on the new analyst outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100