BofA Securities Starts GlobalFoundries Inc. (GFS) at Buy

Street Mostly Bullish on GlobalFoundries (GFS), Seen as a Core Portfolio Holding That Comes With Premium Valuation

Shares of GlobalFounderies (NASDAQ: GFS) are up nearly 5% in pre-open Monday after the majority of Street analysts weighed in on the company with mostly positive views.

The semiconductor company made its IPO debut at the end of October to raise $2.6 billion after reporting revenue of $5.7 billion for 2020 and $3.04 billion for the first half of the year. GFS counts Advanced Micro Devices (NASDAQ: AMD), Qualcomm (NASDAQ:... More

Wedbush Starts GlobalFoundries Inc. (GFS) at Outperform

Wedbush initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Outperform rating and a price target of $75.00.

For an analyst ratings summary and ratings history on GlobalFoundries Inc. click here. For more ratings news on GlobalFoundries Inc. click here.

Shares of GlobalFoundries Inc. closed at $61.94 yesterday.

UPDATE: Raymond James Starts GlobalFoundries Inc. (GFS) at Outperform

(Updated - November 22, 2021 6:37 AM EST)

Raymond James analyst Chris Caso initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Outperform rating and a price target of $80.00.

The analyst comments "We are initiating coverage of GlobalFoundries (GFS) with an Outperform rating and $80 target... More

Citi Starts GlobalFoundries Inc. (GFS) at Buy

Citi analyst Chris Danely initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Buy rating and a price target of $75.00.

For an analyst ratings summary and ratings history on GlobalFoundries Inc. click here. For more ratings news on GlobalFoundries Inc. click here.

Shares of GlobalFoundries Inc. closed at $61.94 yesterday.

UPDATE: Needham & Company Starts GlobalFoundries Inc. (GFS) at Buy

(Updated - November 22, 2021 6:43 AM EST)

Needham & Company analyst Rajvindra Gill initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Buy rating and a price target of $85.00.

The analyst commented, "We are initiating coverage of GlobalFoundries (GFS) with a Buy rating and an... More

Cowen Starts GlobalFoundries Inc. (GFS) at Outperform

Cowen initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Outperform rating and a price target of $80.00.

For an analyst ratings summary and ratings history on GlobalFoundries Inc. click here. For more ratings news on GlobalFoundries Inc. click here.

Shares of GlobalFoundries Inc. closed at $61.94 yesterday.

UPDATE: Jefferies Starts GlobalFoundries Inc. (GFS) at Buy

(Updated - November 22, 2021 7:20 AM EST)

Jefferies analyst Mark Lipacis initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Buy rating and a price target of $87.00.

The analyst comments "We launch coverage of GFS with a Buy-rating and an $87 price target. We view... More

UPDATE: Deutsche Bank Starts GlobalFoundries Inc. (GFS) at Buy

(Updated - November 22, 2021 6:39 AM EST)

Deutsche Bank analyst Ross Seymore initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Buy rating and a price target of $75.00.

The analyst comments "We are initiating coverage on GlobalFoundries (ticker: GFS) with a Buy rating and a $75 P/T following its IPO on 10/28/21. Following its long-term accumulation of semiconductor manufacturing assets from AMD (2009), Chartered... More

UPDATE: Baird Starts GlobalFoundries Inc. (GFS) at Outperform

(Updated - November 22, 2021 7:21 AM EST)

Baird analyst Tristan Gerra initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Outperform rating and a price target of $100.00.

The analyst comments "The confluence of secular acceleration in semiconductor demand, increasing demand for a variety of... More

UPDATE: JPMorgan Starts GlobalFoundries Inc. (GFS) at Overweight

(Updated - November 22, 2021 4:02 AM EST)

JPMorgan analyst Harlan Sur initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Overweight rating and a price target of $80.00.

The analyst comments "We see GF outpacing industry growth by ~1.5x-2x at a 12% CAGR for... More

Credit Suisse Starts GlobalFoundries Inc. (GFS) at Outperform

Credit Suisse analyst John Pitzer initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Outperform rating and a price target of $75.00.

For an analyst ratings summary and ratings history on GlobalFoundries Inc. click here. For more ratings news on GlobalFoundries Inc. click here.

Shares of GlobalFoundries Inc. closed at $62.11 yesterday.

UPDATE: Morgan Stanley Starts GlobalFoundries Inc. (GFS) at Equalweight

(Updated - November 22, 2021 4:12 AM EST)

Morgan Stanley analyst Joseph Moore initiates coverage on GlobalFoundries Inc. (NASDAQ: GFS) with a Equalweight rating and a price target of $67.00.

The analyst comments "We see GFS as a key beneficiary of multiple important cyclical and... More

Ford, GlobalFoundries say they will work together to boost chip supply

By Stephen Nellis and Ben Klayman

(Reuters) -Ford Motor Co and chip manufacturer GlobalFoundries Inc on Thursday said they plan to work together to boost supplies for the automaker's vehicles and the broader U.S. auto industry but gave few details about what the deal entails.

The two companies announced a non-binding agreement that could involve increasing production capacity for Ford's current lineup and performing joint research and development on several categories of chips that are likely to be key to future cars, such as battery-management systems and self-driving systems.

Over the past year, a global... More

GlobalFoundries (GFS) and Ford (F) announce strategic collaboration

GlobalFoundries Inc. (Nasdaq: GFS) (Nasdaq: GF), a global leader in feature-rich semiconductor manufacturing, and Ford Motor Company (NYSE: F) today announced a strategic collaboration to advance semiconductor manufacturing and technology development within the United States, aiming to boost chip supplies for Ford and the U.S. automotive industry.

The companies have signed a non-binding agreement that opens the door... More