Credit Suisse: Raises GF (GFS.O) target price from US$75 to US$80

$GlobalFoundries (GFS.US)$ Credit Suisse analyst John Pitzer raised the target price of GlobalFoundries (GFS.O) from US$75 to US$80 and maintained its outperform rating. The analyst pointed out that GF's third-quarter revenue was in line with expectations, and EPS and fourth-quarter financial estimates were higher than expected because of wafer output growth and structural improvements.

Article excerpted from the US Stock Research Agency