STMicroelectronics: Oddo BHF upgrades stock
(CercleFinance.com) - Oddo BHF has upgraded its rating on the STMicroelectronics share from "neutral" to "buy," having raised its corresponding target price from 25 euros to 33 euros, saying that investors could play a faster-than-expected recovery, which will enable the Huawei shock to be absorbed without too many difficulty.
the broker reports that the CEO made positive comments - not only on the progress of the third quarter - but also on the dynamics of some of the group's divisions and on its ability to meet its 12 billion dollar sales target.
The analyst says that the broker underestimated the dynamics of the recovery - especially in the automotive sector - and the fact that the group's long repositioning in recent years has exposed it to the most promising trends in the industry.
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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 reports that the CEO made positive comments - not only on the progress of the third quarter - but also on the dynamics of some of the group's divisions and on its ability to meet its 12 billion dollar sales target.
The analyst says that the broker underestimated the dynamics of the recovery - especially in the automotive sector - and the fact that the group's long repositioning in recent years has exposed it to the most promising trends in the industry.
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.