STMicroelectronics: UBS still on hold, adjusts TP

(CercleFinance.com) - Following the release of STMicroelectronics' annual results, UBS maintains its "neutral" stance on the Franco-Italian semiconductor manufacturer's stock, having trimmed its target price from 46 euros to 44 euros, which gives it residual upside potential of 8%.


"Despite a strong pipeline, we believe the risk/reward is more balanced especially in a context of peaking lead indicators," the broker says, which acknowledges its good momentum, but says "mind the normalisation".


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