Jefferies analyst Janardan Menon upgraded STMicroelectronics (STM) to Buy from Hold with a price target of EUR 34, up from EUR 23. The firm contends that there will be no further consensus estimate cuts, with growth forecast to accelerate from the second half of this year due to normalization post-inventory correction, higher content in iPhone 17s from metasurface-based solutions, and industrial demand recovery. Structural drivers for STMicroelectronics also include Edge AI, LEO satellites, silicon photonics and auto MCUs, the analyst tells investors in a research note.
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