GlobalFoundries price target raised to $65 from $58 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on GlobalFoundries (GFS) to $65 from $58 and keeps an Equal Weight rating on the shares. Results point to improving conditions outside of single digit nodes, utilizations should rise through 2026, and AI demand remains well above GlobalFoundries’ ability to supply, but the firm would prefer “more direct exposure to those trends,” the analyst tells investors.