It's so fucking controversial and ambiguous, many analysts rate it as holding or strong buy and, but JP Morgan rate it as medium? Why is that
BUZZ-GlobalFoundries falls as JP Morgan downgrades to "neutral"
** GlobalFoundries Inc's shares down 2.4% at $53.92 premarket after JP Morgan downgrades contract chipmaker to "neutral" from "overweight" ** Brokerage cuts PT to $56 from $65 ** Specialty/mature node foundry manufacturing activity continues to decline broadly, potentially lagging semiconductor industry recovery trends by 1-2 quarters and is not adequately reflected in current consensus, JP Morgan says in research note ** JPM says it believes GFS's FinFET customers at 12nm-16nm nodes migrating away to lower geometry nodes, which GFS does not support, adding "the team may not be back filling these migrations as quickly as they are losing them" ** Now, 11 or 15 analysts rate GFS "buy" or "strong buy", rest have "hold" recommendations and their median PT is $69, per LSEG ** Stock down 8.8% YTD through Fri close and off ~15% over the past 12 months