STMicro: Liberum raises target price
(CercleFinance.com) - Liberum has reinstated its "buy" recommendation on the STMicroelectronics share and has raised its corresponding target price from 23 euros to 25 euros, after raising its sales and earnings forecasts for the Franco-Italian group.
In its research note, the broker highlights the "efficiency and flexibility of its R&D engine," as well as its "ability to work in partnership with major OEMs".
"We expect these factors to drive revenues to the targeted $12bn by 2021," Liberum says, which has identified 13 products whose sales will grow from 3.6 billion dollars in 2018 to 5.9 billion dollars in 2021.
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