GlobalFoundries downgraded, TeraWulf upgraded: Wall Street's top analyst calls

Key Highlights

• Clear Street upgraded Plug Power (PLUG) to Buy from Hold with a price target of $3, down from $3.50.
• The firm sees more attractive upside in the shares following the recent selloff.
• It cites dilution from Plug Power's convertible refinancing in late November for the target drop.
• Top Downgrades: Wedbush downgraded GlobalFoundries (GFS) to Neutral from Outperform with a price target of $40, down from $42.
• While the firm believes that GlobalFoundries has a path to a model with stronger revenues, improved utilization, and better margins on improved end market fundamentals and a shift towards local supply chains, it also believes recent developments have elongated the timeframe around when those catalysts might play out, the firm tells investors.