STMicroelectronics N.V. : ‘Wake-up call’? The consensus is well off the mark for 2022 and 2023
>Outperform rating maintained, TP increased to € 47 (vs € 45), the consensus does not reflect the group’s outlook by any means - Following ST’s Q2 2021 earnings release yesterday, we reiterate our Outperform rating, increase our estimates and up our target price to € 47 vs € 45. Yesterday’s release should in our view be a wake-up call after a period of underperformance, which has accentuated the value aspect of a stock that prior to the release was trading at just 10x...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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