STMicro: Liberum says an 'attractive valuation'
(CercleFinance.com) - Liberum has confirmed its "buy" rating on the STMicroelectronics stock, along with its target price of 23 euros, deeming the valuation of the Franco-Italian semiconductor manufacturer "attractive," the day after the group published its annual results.
The broker believes that a new bull cycle will start in the second half of 2019, and that STMicro is well positioned to benefit from its presence in high-growth segments such as the Internet of Things.
Liberum sees no medium-term risk associated with its position as an image sensor at Apple, and expects its revenues to grow in a mid-to-high single-digit range over the longer term, with profitability that is gradually increasing.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker believes that a new bull cycle will start in the second half of 2019, and that STMicro is well positioned to benefit from its presence in high-growth segments such as the Internet of Things.
Liberum sees no medium-term risk associated with its position as an image sensor at Apple, and expects its revenues to grow in a mid-to-high single-digit range over the longer term, with profitability that is gradually increasing.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.