(News Bulletin 247) – Jefferies raises its advice on STMicroelectronics from ‘underperformance’ to ‘keep’ with a price target raised by 39% to 46 euros, in a note devoted to the European semiconductor sector in the broad sense.
‘The sector has entered a new bullish cycle, which we believe should translate into a significant additional revaluation and strong EPS growth over the next two years’, judges the broker.
Jefferies incorporates into its model ‘artificial intelligence as a major driver of demand for advanced logic boards, and consequently for ASML and ASM revenues’ for which it also raises its price targets.
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