STMicroelectronics N.V. : A further cut to the 2024 guidance is very likely but already seems priced in by the market
>A new warning is likely, EPS estimates cut by ~5%, target price of € 46 (vs € 48), but Outperform rating reiterated - STM will report its Q2 2024 earnings on 25/07. Despite a lengthy period of weak demand in automotive and especially in industry (where inventory corrections are continuing), Q2 2024 results should come in within the guidance and be fairly close to consensus expectations. The real question in this publication will be the 2024 guidance which is likely t...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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