JPMorgan lowered the firm’s price target on STMicroelectronics (STM) to EUR 35 from EUR 42 and keeps an Overweight rating on the shares. The company has had a difficult 2024 after over-shipping in 2023 and due to the slowdown seen in the industrial end market, the analyst tells investors in a research note. However, the firm says STMicroelectronics is the market leader in silicon carbide, meaning that it benefits as more and more auto customers shift to SiC.
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