STMicroelectronics price target lowered to $30 from $35 at Baird
The Fly

STMicroelectronics price target lowered to $30 from $35 at Baird

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.

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