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GlobalFoundries Q2 beats estimates but price target cut to $60 by Jefferies

Analyst Insights
05 Aug 2026
Tony Dante
View Source
Neutral
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GlobalFoundries reported strong Q2 revenue of $1.786 billion, surpassing Wall Street estimates due to high demand for AI semiconductor chips. The company showed solid financial health with a 28.3% gross margin, $0.30 earnings per share, and $3.3 billion in cash. Despite this, Jefferies lowered the stock price target to $60 from a current price of $49.46, indicating cautious optimism about future growth. The stock has experienced volatility, trading between $31.51 and $92.55 over the past year.

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