STMicro: Oddo BHF still on hold

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on STMicro shares, with an unchanged target price of E28, following yesterday's CMD in Paris, during which STM officially pushed back its 25/27 target to 2030 and unveiled interim 2027/28 targets.


The 27/28 targets are 9% above consensus, but do not seem unattainable in 2028, the analyst says.

The broker believes that the sales target of $18bn in 2027/28, above consensus at $16.4bn in 2027 and $17.4bn in 2028, is ambitious, but not out of reach, and that it will depend on the sequence in 2025.

The group has said little about this, but with regard to the 2030 targets, the sales target is credible if the 2027/28 target of $18 billion is achieved, the analyst adds.


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