STMICRO : Stifel remains Buy, but adjusts its target
The broker explains that he wishes to 'reflect weaker than previously expected dynamics for STMicroelectronics over the remainder of the year, particularly in industrial applications, but also in automotive'.
Stifel points out, however, that with a P/E 2025 of around 12 times after this revision, the valuation is attractive and below the average of its peers. It remains 'Buy' on the dossier, 'seeing the long-term growth case unchanged'.
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