STMicroelectronics downgraded to Underweight from Equal Weight at Morgan Stanley
The Fly

STMicroelectronics downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley downgraded STMicroelectronics (STM) to Underweight from Equal Weight with a price target of EUR 20, down from EUR 35. The firm sees challenges to automotive growth in fiscal 2025, with margins “remaining vulnerable” to under-utilization charges, reservation fee roll-off and higher depreciation charges. It cites headwinds in the automotive market, and flat sales elsewhere, for the downgrade of STMicroelectronics.

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