Craig-Hallum lowered the firm’s price target on STMicroelectronics (STM) to $28 from $36 and keeps a Buy rating on the shares. The firm notes Industrial, and to a lesser extent Auto, markets continue to weaken with STMicroelectronics still expecting a worse than seasonal March quarter. Craig-Hallum continues to model for the deterioration of the company’s business, and notes gross margins and profitability are expected to move significantly lower in 2025.
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