Movement Alert｜GLOBALFOUNDRIES Inc. Falls 5.58% in Regular Trading, Analyst Target Cuts Weigh on Shares

Market Focus11-05

On November 5, GLOBALFOUNDRIES Inc. fell 5.58% in Regular Trading, trading at $38.17, with turnover of $9.4698 million.

The move coincided with fresh analyst target cuts, with Wedbush reducing its price target to $45 from $72 while maintaining a Neutral rating, and JPMorgan also lowering its target to $50 from $57.

The pressure followed a weak post-earnings share reaction despite third-quarter results that modestly exceeded expectations. GLOBALFOUNDRIES Inc. reported adjusted EPS of $0.53 and revenue of $1.90 billion for the quarter ended September 30, compared with consensus expectations near $0.50 to $0.51 and $1.889 billion to $1.89 billion. Even with the earnings beat, the latest round of target reductions signaled a more cautious view on valuation and growth expectations.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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