STMicroelectronics N.V. : Feedback from roadshow with CEO/CFO – confirmation that the change of profile is well and truly structural – target price raised to € 25 (vs € 23)
>Buy recommendation confirmed after a day’s roadshow with the CEO/CFO, the factors driving outperformance in 2019 are there for 2020 - A day’s roadshow in Paris with STM, with the CEO (Jean Marc Chery), CFO (Lorenzo Grandi) and IR team (Celine Berthier / Barlow Steibel), reinforces the idea that the share’s recent showing (+65%) is merely a reflection of the group’s operating outperformance (in terms of growth and margin control) and that this is set to continue in 20...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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