STMICRO : Oddo raises its target price on the stock
Yesterday, STMicro reported Q4 22 results ahead of expectations, but also guidance for Q1 and 2023 well above consensus forecasts.
Sales came in at $4.42 billion, close to the consensus of $4.4 billion, at +24% year-on-year and +2.4% sequentially (guidance +1.8% +/- 350bp). EPS came in at $1.32, 21% above consensus.
'For fiscal 2023, the Group expects sales of between $16.8 and $17.8 bn (mid-range at $17.3 bn), up 4% to 10%, compared with the consensus of just 2% at $16.4 bn (we were at +5% or $17 bn)', reports Oddo.
Yesterday, STMicro's share price had risen by 8.2% at the close following the release of its results.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Go to the original article.
Contact us to request a correction