(CercleFinance.com) – Following a point with the company, Oddo BHF reiterates its “outperformance” opinion and its target price of 60 euros on STMicroelectronics, judging in particular that “its valuation remains low in absolute terms, compared to its history and facing his sector.
The design office also continues to believe that demand in the automotive sector remains well oriented, and that the group’s margins are much stronger than in the past, and should start to rise again somewhere in 2024 in the perspective of ‘reach 50%’.
Oddo BHF adds that it appreciates its industrial strategy of building capacities in 300 mm and in Silicon Carbide (SiC) both in the substrate and in the chips, which should enable it to reach its objective of 20 billion dollars by 2025 /27.
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