(CercleFinance.com) – Oddo maintains its ‘outperformance’ rating on ST Micro shares, with a price target raised to 60 euros, against 56 euros previously.
The analysis office underlines the good momentum of the title which only lost 5% in one year, when the sector lost 15%.
ST Micro has published Q4 results above pre-published figures in early January and expects 2022 revenue of $15 billion, well above pre-publication consensus.
‘The most spectacular announcement in this publication is undoubtedly the Capex budget at $3.4/3.6 billion, or approximately 23% of turnover’, indicates Oddo, who specifies that this is a level never reached since 2000.
Consequently, the broker is raising its EPS forecasts by 18% and 19% for 2022 and 2023.
Copyright © 2022 CercleFinance.com. All rights reserved.
The information and analyzes disseminated by Cercle Finance only constitute a decision-making aid for investors. The responsibility of Cercle Finance cannot be held directly or indirectly following the use of information and analyzes by readers. It is recommended that any uninformed person consult a professional adviser before any investment. This indicative information does not in any way constitute an incitement to sell or a solicitation to buy.
Did you like this article ? Share it with your friends with the buttons below.
