(CercleFinance.com) – Morgan Stanley raised its recommendation on Stmicroelectronics on Wednesday, from ‘weight in line’ to ‘overweight’ with a price target increased from 45 to 48 euros.
In a research note, the intermediary estimates that the file could shift from a theme based on reaching floor levels in terms of profit margins to the scenario of a robust recovery during the second half of 2024.
According to him, the robustness of sales of silicon carbide (SiC) components, the launch of new products (sensors, automotive microcontrollers, etc.), the extension of supply agreements and a gradual recovery in demand could This will enable an improvement in activity from mid-2024.
‘In summary, we think this is a good time to take another look at STM,’ the analyst concludes.
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