STMicroelectronics: UBS raises target price.
(CercleFinance.com) - UBS has raised its target price on STMicroelectronics to 14.
30 euros from 12 euros, expecting positive first-quarter results.
The broker - which maintains a "neutral" rating on the stock - says the chipmaker's figures, which are due out on 27 April, should be "solid", in line with German rival Infineon's positive preannouncement in late March.
While UBS also points out "generally positive macro-economic conditions," the broker also believes the risk-reward is looking "increasingly less favourable."
In a research note, the professional highlights "many unknowns" and says that it is difficult to precisely decipher what the group's product ramp-up will be in the second half of the year.
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