Movement Alert｜GLOBALFOUNDRIES Rises 5.25% in Regular Trading, Arete Upgrades Rating to Buy with Target Price Raised to $95

Market Focus06-11 22:07

On June 11, GLOBALFOUNDRIES rose 5.25% in regular trading, trading at $79.36 USD/share, with trading volume of $39.38 million. The rebound follows a recent analyst upgrade that provided a bullish catalyst for the stock.

Arete upgraded GLOBALFOUNDRIES from Neutral to Buy, raising its target price significantly from $37 to $95. According to FactSet, the stock currently carries an average analyst rating of Overweight with a mean price target of $80.70. The upgrade comes after the stock had declined over multiple sessions in early June, falling from above $81 to around $73 in the preceding week.

Within the Semiconductors sector where GLOBALFOUNDRIES belongs, the overall sector showed broad strength. Among individual stocks, Intel up 11.03%, Marvell Technology up 5.63%, Advanced Micro Devices up 5.42%, Micron Technology up 3.74%, NVIDIA up 1.3%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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