STMicroelectronics: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on STMicroelectronics shares, raising its target price for the chipmaker's stock from 49.
5 euros to 60 euros.

In a report, the broker believes that the market consensus seems to underestimate the group's potential - both in terms of growth and profitability.

Analysts see STM as being a major beneficiary of many of the current underlying trends, expecting the semiconductor designer to exceed revenue growth forecasts in 2022.

STMicroelectronics will report its Q4 results on 27 January.


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