Baird lowered the firm’s price target on STMicroelectronics (STM) to $30 from $35 and keeps a Neutral rating on the shares. The firm said inventories entering the seasonally-weak 1H of next year are too high given lack of demand pick up, triggering significant under-utilization charges and likely an eight-year gross margin low for 1Q.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STM:
- STMicroelectronics: Q3 2024 Financial Overview and Outlook
- STMicroelectronics price target lowered to $36 from $42 at Craig-Hallum
- STMicroelectronics reports Q3 EPS 37c, consensus 33c
- STMicroelectronics price target lowered to EUR 35 from EUR 42 at JPMorgan
- STM Earnings Report this Week: Is It a Buy, Ahead of Earnings?
Questions or Comments about the article? Write to editor@tipranks.com