STMicro: Credit Suisse raises target price
(CercleFinance.com) - STMicro has announced preliminary Q3 2020 net sales of 2.
67 billion dollars, up 27.8% sequentially and 690 basis points above the top of the forecast range.
Following this announcement, Crédit Suisse has raised its target price to 33 euros (from 28.50 euros) and has confirmed its Outperform rating on the share, saying "STMicro remains one of our top picks in the sector".
"We now forecast EPS of $0.99/$1.50 in 2020/21, and also introduce 2022 EPS of $1.80," Crédit Suisse said.
"We model Q3 sales of $2.67bn, followed by Q4 at $2.76bn... We now expect 2020 sales to be $9.75bn (+2% yoy)," it added.
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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.
67 billion dollars, up 27.8% sequentially and 690 basis points above the top of the forecast range.
Following this announcement, Crédit Suisse has raised its target price to 33 euros (from 28.50 euros) and has confirmed its Outperform rating on the share, saying "STMicro remains one of our top picks in the sector".
"We now forecast EPS of $0.99/$1.50 in 2020/21, and also introduce 2022 EPS of $1.80," Crédit Suisse said.
"We model Q3 sales of $2.67bn, followed by Q4 at $2.76bn... We now expect 2020 sales to be $9.75bn (+2% yoy)," it added.
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.