STMicroelectronics price target raised to $40 from $35 at Susquehanna

Susquehanna analyst Christopher Rolland raised the firm’s price target on STMicroelectronics (STM) to $40 from $35 and keeps a Positive rating on the shares as part of an earnings preview for the semiconductor group. The firm generally expects in-line results to modest upside in Q3. However Chinese electric vehicle production cuts and easing tariff pull-ins may negatively impact the Q4 outlook for auto exposed names, the analyst tells investors in a research note. Still, Susquehanna expects “generally better than seasonal results” for the group in Q4.