STMicroelectronics N.V. : Target of $ 12bn (run rate) should be achieved in Q4 2021 - Buy reiterated, target price raised to € 36 (vs € 33)
>Buy reiterated – target price raised to € 36 (vs € 33). Investment case reiterated - Following the upward revision to forecasts for Q3 2020 and positive indications on the level of sales announced last week, we reiterate our Buy recommendation, have raised our forecasts by 11% for 2020-2021 as well as our target price (average of DCF and peer group multiples) to € 36 vs € 33 previously, i.e. upside of 30%. We still appreciate STMicroelectronics’ profile due to: 1/ it...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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