STMicroelectronics N.V. : Feedback from roadshow with CEO: capex to support acceleration in structural growth for automotive and industrial markets
>Outperform rating confirmed, target price € 60 - Following the release of its Q4 2021 results and better-than-expected 2022 guidance (Fr/En), with a projected increase in capex, we held a day’s roadshow with Jean Marc Chery, group CEO (+Lorenzo Grandi, Marco Cassis and the IR team). We note the group’s very confident tone on the current momentum, but also on the fundamental shift in the growth profile of its markets, notably automotive and industry, which are benefit...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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