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Goldman Upgrades STMicroelectronics To Neutral, Sees 9.3% Upside

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Goldman Upgrades STMicroelectronics To Neutral, Sees 9.3% Upside
  • Goldman Sachs analyst Alexander Duval upgraded STMicroelectronics NV (NYSE: STM) to Neutral from Sell with a €34 price target implying a 9.3% upside.
  • The upgrade was in the context of third-quartile upside versus his Europe Tech coverage and roughly 5%-6% upside to his unchanged price target. 
  • Duval added that the company continues to have solid long-term prospects in secular growth areas related to green transport, automation of the car, and advanced communications.
  • Price action: STM shares traded lower by 0.60% at $38.28 in the premarket session on the last check Thursday.

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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Posted-In: BriefsNews Upgrades Price Target Analyst Ratings Tech Media

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