UBS initiated coverage of GlobalFoundries (GFS) with a Neutral rating and $47 price target The company has a favorable position but its markets are likely oversupplied, the analyst tells investors in a research note. The firm sees GlobalFoundries as favorably positioned relative to peers amid geopolitical uncertainty, but still sees mature node markets skewing to oversupply through 2026. As such, it believes the risks offset the stock’s upside potential.

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