STMicroelectronics N.V. : Still in excellent shape and deeply discounted
>At the start of the quiet period, we maintain our Outperform rating - Following an update with the company, we maintain our Outperform rating, with a target price of € 60 (32% upside). Our forecasts are unchanged. We still think that: 1/ demand in automotive remains healthy, with still positive pricing momentum, 2/ group margins, while they are set to be under pressure temporarily in H2, are much more solid than they used to be, and should start to move back up at so...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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