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STMicroelectronics initiated with a Neutral at Mizuho

Mizuho analyst Vijay Rakesh initiated coverage of STMicroelectronics (STM) with a Neutral rating and $22 price target The firm views STM as a leading European analog manufacturer with long-term tailwinds that are being offset by near-term headwinds. China electric vehicle growth is slowing and the company’s recovery in industrial is “muted,” the analyst tells investors in a research note.

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