BofA analyst Vivek Arya lowered the firm’s price target on GlobalFoundries (GFS) to $35 from $40 and keeps a Neutral rating on the shares. The firm notes that Q2 was slightly ahead, including some one-offs, but Q3 missed while Q4 expectation of 9%-10% quarter-over-quarter growth is doable but leaves little room for error. Overall, BofA lowers 2026/2027 pf-EPS by 15%/19% to $1.95/$2.29, and adjusted EBITDA by 17%/20% to $2.6B/$2.7B.
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