BNP Paribas cuts GlobalFoundries price target to $51 and downgrades rating to Neutral
On 5 Oct 2026 BNP Paribas downgraded GlobalFoundries (NASDAQ:GFS) from Outperform to Neutral. Analyst Karl Ackerman reduced the price target from $80 to $51, citing slower diversification into higher‑margin applications and geopolitical headwinds. The downgrade came as the stock traded around $50.17 and $47.81 in different reports. Insider activity showed net selling of $3.8 million over the past year.
Why it matters
BNP Paribas expects the company’s growth prospects to be largely priced in, which could limit upside for investors and put downward pressure on the share price (the firm’s own note). The lower target may prompt other analysts to adjust their forecasts, affecting valuation multiples.
Key facts
- 1BNP Paribas downgraded GlobalFoundries from Outperform to Neutral on 5 Oct 2026. investing.com
- 2The price target was cut from $80 to $51. investing.com
- 3The stock was trading at $50.17 at the time of the downgrade. investing.com
- 4Another report listed the price at $47.81, about 3.9% above its GF Value™ of $46.02. gurufocus.com
- 5Insiders sold $3.8 million of shares over the past 12 months with no purchases reported. gurufocus.com
Summary written by AlphAI from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.