STMicro: UBS still on hold, same TP
(CercleFinance.com) - UBS reiterates its Neutral rating on the STMicro stock, with a target price of E52, after the group's results.
The analyst believes that Q3 2023 results will be broadly in line with estimates, driven by the automotive sector.
"STMicro EBIT was 4%% above consensus in Q3'23 and mid single digit below for Q4. Based on Q4'23 guidance, we expect minor changes to FY23 EBIT consensus" UBS says.
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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 analyst believes that Q3 2023 results will be broadly in line with estimates, driven by the automotive sector.
"STMicro EBIT was 4%% above consensus in Q3'23 and mid single digit below for Q4. Based on Q4'23 guidance, we expect minor changes to FY23 EBIT consensus" UBS says.
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.