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CitiGroup Raises STMicroelectronics Rating To Buy, Sees 26% Upside Potential

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CitiGroup Raises STMicroelectronics Rating To Buy, Sees 26% Upside Potential
  • CitiGroup analyst Amit Harchandani upgraded STMicroelectronics NV (NYSE: STM) rating to Buy from Neutral.
  • He raised the price target to €39, up from €36.50. The new price target implies a 25.7% upside potential at the current level.
  • The stock's risk-reward was growingly unequal to the upside following the underperformance in the first half of the year, Harchandani stated.
  • STMicroelectronics' automotive and industrial exposure supported its relative cyclical appeal, Harchandani's research note added.
  • The stock has lost 1.2% year-to-date.
  • Price action: STM shares traded higher by 3.80% at $38.08 on the last check Friday.

Latest Ratings for STM

DateFirmActionFromTo
Jul 2021Goldman SachsUpgradesSellNeutral
Apr 2021Canaccord GenuityMaintainsBuy
Feb 2021BerenbergUpgradesSellHold

View More Analyst Ratings for STM
View the Latest Analyst Ratings

 

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