2024 - STMicro: stock in decline, a broker reduces its target

[ad_1]

(CercleFinance.com) – STMicro shares fell by more than 1% in Paris as this morning, Stifel announced that it was reducing its target on the stock from 46 to 43 euros, in order to reflect a slower recovery in the industrial sector for the rest of 2024 and weaker automotive activity in 2025.

‘Our EPS forecast decreases by 7% for 2024 and by 13% for 2025,’ indicates the broker, which specifies that it now predicts growth of only 11% in H2-24 compared to H1-24.

“We believe ST’s valuation is attractive and below the sector average. Thus, we maintain our Buy recommendation as we see long-term growth potential,” the analyst concludes.

Did you like this article ? Share it with your friends using the buttons below.