STMicro: Oddo confirms rating and target price

(CercleFinance.com) - Oddo has confirmed its buy rating on the STMicroelectronics stock, along with its target price of 24 euros.

Its analysts underline that this year, STMicroelectronics seems to stand out as one of the big winners by increasing content that it provides Apple.

Beyond its participation in the 3D sensor, which is now in the 3 models (iPhone XS, XS max and XR) against just one last year, the group also provides (as was the case last year) a power management chip for the OLED display and as a novelty, a secure microcontroller that is the basis of the embedded SIM (eSIM), Oddo says.

The broker estimates that this launch reinforces the guidance of sequential growth of 10% in Q3 18 (+16.8% in annual terms) and suggests new sequential growth in Q4 18 thanks to the AMS division (which contains the 3D sensor imaging activity), Oddo adds in its daily equity review.



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