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.
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.
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.
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.