STMicroelectronics N.V. : Another warning, fresh revisions, potentially forming a bottom …
>Fresh downward revision to our forecasts of 14% (consensus probably ~20%), target price of € 40 (vs € 46), but we are still at Outperform - Based on these Q2 24 results (initial reaction), with a fresh warning, related to the weakening of automotive demand and an absence of upturn in industry, we have further reduced our forecasts by 14% on average (the consensus is set to revise down by around 20%, we were already at the lower end of the previous guidance range of $...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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