Report
Frederic Yoboue

STMICROELECTRONICS: Q2 results should be well oriented, with additional content opportunities in the short-term | BUY vs. NEUTRAL | EUR27 vs. EUR24 (+15%)

STMICROELECTRONICS - BUY vs. NEUTRAL | EUR27 vs. EUR24 (+15%)
Q2 results should be well oriented, with additional content opportunities in the short-term

Q2 results could be better than expected
Content gains in the next generation of iPhones
Should benefit from a change in focus toward EV
We raise our Fair Value to EUR27 and adopt a BUY rating
Underlying
STMicroelectronics NV

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.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Frederic Yoboue

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