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STMicroelectronics: Oddo BHF raises target price

( - On Friday morning an analyst at Oddo BHF confirms a "buy" recommendation on STMicroelectronics stock, while increasing the corresponding target price for the share from 28 euros to 32 euros.

The significant increase in its Capex illustrates the group's optimism for 2020 and the group's transformation (...). Yesterday, STM published Q4 2019 results that were significantly above the consensus and also provided a better-than-expected guidance for Q1 2020. (...) We have raised our forecast for 2020 sales, now expecting 10% growth, with growth reaching almost 14% in H1 2020 (favourable comparison bases), the broker says.

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