GlobalFoundries price target raised to $43 from $37 at UBS

UBS analyst Timothy Arcuri raised the firm’s price target on GlobalFoundries (GFS) to $43 from $37 and keeps a Neutral rating on the shares. UBS expects in-line results and guidance on August 5, with design wins and share gains with key OEMs driving further momentum for Autos in the second half, the analyst tells investors in a research note.