STMicro: Liberum raises target price
(CercleFinance.com) - Liberum reinstates its "buy" rating on the STMicro share, while raising its target price from 25 euros to 28 euros, expecting the stock to "gradually re-rate as the market gets convinced on the sustainability of the strength seen since H2'16.
".
The broker explains that the strength of the group's sales in H2 2019, as well as its continued strong design win momentum across multiple high growth segments, strengthen its confidence in a high-growth outlook.
"We expect double digit microcontroller growth to continue in coming years, mainly led by IoT demand," Liberum adds, which expects a positive mix effect to support its margins.
Copyright (c) 2019 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 broker explains that the strength of the group's sales in H2 2019, as well as its continued strong design win momentum across multiple high growth segments, strengthen its confidence in a high-growth outlook.
"We expect double digit microcontroller growth to continue in coming years, mainly led by IoT demand," Liberum adds, which expects a positive mix effect to support its margins.
Copyright (c) 2019 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.