STMicro: Credit Suisse raises target price
(CercleFinance.com) - Credit Suisse has raised its target price for the STMicro share to 30 euros (vs.
28 euros), while confirming its buy rating.
The analysts point out that Q2 are better than expected. "We raise our 2020/2021 sales and EPS estimates by 3%/2% and 8%/6% driving sales of $9.46bn/$10.68bn and EPS of $0.87/$1.54," analysts said.
They add "STM (is) on track to reach its $12bn sales target by 2H22 or 2023".
"For Q3/Q4, we model sales to grow 17%/10% qoq to $2.45bn/$2.69bn. This results in 2020 sales of $9.46bn (-1% yoy)" Crédit Suisse says.
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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.
28 euros), while confirming its buy rating.
The analysts point out that Q2 are better than expected. "We raise our 2020/2021 sales and EPS estimates by 3%/2% and 8%/6% driving sales of $9.46bn/$10.68bn and EPS of $0.87/$1.54," analysts said.
They add "STM (is) on track to reach its $12bn sales target by 2H22 or 2023".
"For Q3/Q4, we model sales to grow 17%/10% qoq to $2.45bn/$2.69bn. This results in 2020 sales of $9.46bn (-1% yoy)" Crédit Suisse says.
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.