STMicro: Oddo still a buyer with an encouraging Q3
(CercleFinance.com) - While Q3 sales are set to largely outpace expectations, STMicroelectronics expects FY 2020 sales to exceed 9.
65 billion dollars.
The recovery is indeed expected to be much stronger than at first thought, and the group will probably post growth in Q4, Oddo says.
For the broker STM's favourable situation is linked to the positioning that the company has built in recent years (smartphone, electromobility, microcontrollers, etc.), although note that its competitors should probably benefit from similar trends in the second half of the year.
Oddo therefore maintains its buy rating on the share, with a target price of 33 euros (8% upside potential).
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.
65 billion dollars.
The recovery is indeed expected to be much stronger than at first thought, and the group will probably post growth in Q4, Oddo says.
For the broker STM's favourable situation is linked to the positioning that the company has built in recent years (smartphone, electromobility, microcontrollers, etc.), although note that its competitors should probably benefit from similar trends in the second half of the year.
Oddo therefore maintains its buy rating on the share, with a target price of 33 euros (8% upside potential).
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.