(CercleFinance.com) – Berenberg announced on Tuesday that it had moved from ‘hold’ to ‘buy’ on the Stmicroelectronics stock, with a price target however revised downwards from 53 to 49 euros.
In a sectoral note, the research office believes that the semiconductor market is no longer very far from a recovery, which leads it to review its opinion on Infineon and STM shares, whose prices have fallen significantly. This year.
The analyst believes that the weakness of the industrial and consumer electronics markets, and even automobiles to a certain extent, is today well integrated into the stock price.
‘From our point of view, STM’s order book and margins should improve in the second half of the year, against a backdrop of stabilization of its main markets from the middle of the year,’ he underlines.
‘In addition, we believe that its exposure to Apple and Tesla, now below pre-2022 levels, could potentially favor a revaluation in terms of multiple,’ Berenberg concludes.
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