Morgan Stanley Lifts Five Chip Price Targets and Underwrites $5.25B in IPOs
Morgan Stanley raised price targets on GlobalFoundries to $58, IonQ to $47, AMD to $360, Microchip to $92 and Navitas to $12.50. It also leads bookrunner syndicates on Cerebras Systems’ planned $3.5B IPO at a $26.62B valuation and Blackstone Digital Infrastructure Trust’s $1.75B IPO.
1. Morgan Stanley Raises Semiconductor Price Targets
Morgan Stanley increased its price targets on several semiconductor companies, boosting GlobalFoundries to $58, IonQ to $47, AMD to $360, Microchip Technology to $92 and Navitas to $12.50. The firm highlighted broadening demand across trailing-edge foundries, GPU ramp considerations and potential pricing gains in silicon photonics.
2. Leads Underwriting of Major IPOs
Morgan Stanley is serving as a lead bookrunner on Cerebras Systems’ IPO, aiming to raise $3.5 billion at a $26.62 billion valuation by selling 28 million shares at $115-$125 each. It is also underwriting Blackstone Digital Infrastructure Trust’s $1.75 billion IPO, which targets data-center assets valued between $250 million and $1.5 billion and includes a 1% bonus share incentive.