STMicro: Oddo raises target price after CES 2020
(CercleFinance.com) - On Tuesday morning Oddo analysts issued a report an STMicro following feedback from the CES 2020.
They consider that group made a convincing presentation of its products regarding the group's industrial positioning.
Regarding the preview for Q4 2019, Oddo says that this is just above the consensus, with it expecting results to be in line with the guidance as a whole.
Oddo says that the consensus appears to expect sales for fall in Q1 20, which it thinks is a bit severe.
The share's valuation remains affordable relative to its sector, despite excellent performance in 2019. As such, the Oddo is rasing its target price to 28 euros (nearly 14% upside), vs. 25 euros previously, although a blue sky scenario could even lead it to raise this further to 37 euros, meaning impressive upside potential of 53%.
Oddo also confirms its buy rating on the share.
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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.
They consider that group made a convincing presentation of its products regarding the group's industrial positioning.
Regarding the preview for Q4 2019, Oddo says that this is just above the consensus, with it expecting results to be in line with the guidance as a whole.
Oddo says that the consensus appears to expect sales for fall in Q1 20, which it thinks is a bit severe.
The share's valuation remains affordable relative to its sector, despite excellent performance in 2019. As such, the Oddo is rasing its target price to 28 euros (nearly 14% upside), vs. 25 euros previously, although a blue sky scenario could even lead it to raise this further to 37 euros, meaning impressive upside potential of 53%.
Oddo also confirms its buy rating on the share.
Copyright (c) 2020 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.