(CercleFinance.com) – STMicroelectronics gained just under 1% in Paris after AlphaValue announced that it was raising its recommendation on the stock to ‘buy’ versus ‘accumulate’, after the presentation of ‘extremely positive’ results for the fourth trimester.
The independent research office – which maintains its target price of 58.6 euros unchanged – notes that the quarterly turnover of the semiconductor manufacturer has exceeded the upper limit of its objectives.
The gross margin stood at 45%, a level that the Parisian firm considers “impressive” since two points above its own forecast.
‘These spectacular figures are still the result of solid momentum in all markets, a robust pricing environment and high operational efficiency knowing that the factories are now running at full capacity’, he underlines .
AlphaValue points out that the group’s forecasts turn out to be equally favourable, with the group heading for ‘record’ performances this year in terms of both turnover and profits.
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