STMicro: Oddo still a buyer, but cuts TP
(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on STMicroelectronics shares following the chipmaker's quarterly report, while reducing its target price for them from E64 to E58, based on more reasonable forecasts for 2024.
In its report, the broker highlights a realistic view of the weakening of the industry, although considers that the group's situation appears to be under control and that its valuation is still very attractive.
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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.
In its report, the broker highlights a realistic view of the weakening of the industry, although considers that the group's situation appears to be under control and that its valuation is still very attractive.
Copyright (c) 2023 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.