HSBC Maintains Hold on GLOBALFOUNDRIES, Lowers Price Target to $43
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Frank Lee maintains a Hold rating on GLOBALFOUNDRIES (NASDAQ:GFS) and lowers the price target from $56 to $43.
May 03, 2024 | 6:44 pm
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HSBC maintains a Hold rating on GLOBALFOUNDRIES and reduces the price target from $56 to $43.
The reduction in price target by HSBC suggests a bearish outlook on GLOBALFOUNDRIES' stock value in the short term, likely due to revised expectations on the company's future performance or market conditions. This could lead to negative investor sentiment and a potential decrease in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100