Oddo BHF maintains its ‘neutral’ rating on STMicro shares, with an unchanged target price of 28 euros, following yesterday’s CMD (investor day) in Paris, during which STM officially pushed back its 25/27 target to 2030 and unveiled interim 2027/28 targets.
“The 27/28 targets are 9% above consensus, but do not seem unattainable in 2028”, says the analyst.
The broker believes that the sales target of $18 billion in 2027/28, above consensus at $16.4 billion in 2027 and $17.4 billion in 2028, is ‘ambitious but not out of reach’, and that it ‘will depend on the sequence in 2025’.
‘The Group has said little about this, but with regard to the 2030 targets, the sales target is credible if the 2027/28 target of $18 billion is achieved’, adds the analyst.
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