STMicroelectronics N.V. : Adoption of a more cautious scenario for 2025; significant revisions put us far below the consensus, we move to Neutral
>We are adjusting our 2025 scenario by 48%, and fear that that the consensus has not adopted a sufficiently cautious scenario for H2 2025 - Following the Q3 2024 earnings publication that beat forecasts (due to lower opex than expected) but was marked by a new warning on 2024 (broadly expected) and above all by the indication (unusual at this stage of the year) of a very weak Q1 2025, we are adjusting our 2025 forecasts by 48%, far more than initially expected. Indeed...STMicroelectronics is a global independent semiconductor company that designs, develops, manufactures and markets a broad range of semiconductor integrated circuits (“ICs”) and discrete devices. Co. offers a diversified product portfolio and develops products for a wide range of market applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems. Within its diversified portfolio, Co. is focused on developing products that leverage its technological strengths in creating customized, system-level solutions with digital and mixed-signal content.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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