STMicroelectronics N.V. : Visibility on 2022 very clear, less than 10x EBITDA, target price lifted to € 50
>Outperform rating maintained, target price raised to € 50 (vs € 47) - Following STM’s Q3 2021, we are confirming our Outperform rating and raising our forecasts and our target price to € 50 vs € 47. The report should help extend the good momentum driving the stock, which is now up 35% YTD after a frustrating period of underperformance in H1. The group has 1) reported very good Q3 results, 2) guided on Q4 above expectations, especially on gross margin, 3) again raised...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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