STMicro: Oddo BHF trims TP ahead of quarterly results
(CercleFinance.com) - Oddo BHF reaffirms its 'outperform' rating on STMicroelectronics shares, while adjusting its TP for them from E48 to E46 euros, ahead of the company's Q2 results, which it expects to come in within guidance and fairly close to the consensus.
The real issue at stake in this publication will be the 2024 guidance, which is likely to be revised downwards once again to the lower end of the $14bn/15bn range, probably below the current consensus of nearly $14.4bn, it warns.
Thus believing a further warning likely, the broker lowers its own forecast for the semiconductor manufacturer, already initially below consensus and guidance, to $14bn, as well as its EPS by around 5%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The real issue at stake in this publication will be the 2024 guidance, which is likely to be revised downwards once again to the lower end of the $14bn/15bn range, probably below the current consensus of nearly $14.4bn, it warns.
Thus believing a further warning likely, the broker lowers its own forecast for the semiconductor manufacturer, already initially below consensus and guidance, to $14bn, as well as its EPS by around 5%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.