STMicro: Oddo raises price target
(CercleFinance.com) - Oddo reiterates its buy recommendation and raises its price target to 36 euros, compared to 33 euros previously.
This is especially based on the favourable forecasts for the 3rd quarter, as well as for the annual turnover.
Oddo also raises its EPS by 11.6% and estimates that STMicro's turnover could reach 9.74 billion euros in 2020, a 2% increase. For 2021, the analyst remains optimistic and is even counting on a two-figure growth in turnover: +14%, a turnover of 11.2 billion euros.
The broker highlights STMicro's market exposure, its excellent position in technology and its industry know-how.
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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.
This is especially based on the favourable forecasts for the 3rd quarter, as well as for the annual turnover.
Oddo also raises its EPS by 11.6% and estimates that STMicro's turnover could reach 9.74 billion euros in 2020, a 2% increase. For 2021, the analyst remains optimistic and is even counting on a two-figure growth in turnover: +14%, a turnover of 11.2 billion euros.
The broker highlights STMicro's market exposure, its excellent position in technology and its industry know-how.
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.