Craig-Hallum lowered the firm’s price target on STMicroelectronics (STM) to $42 from $48 and keeps a Buy rating on the shares. The firm notes STMicroelectronics lowered its full year 2024 guide from $14.5B to $13.45B as Industrial revenues are expected to drop dramatically in Q3. The company stated it expects its content with Apple (AAPL) to rise again in the second half of 2025 and is the primary reason Craig-Hallum remains Buy rated at this time. The firm notes, however, it is lowering its estimates sharply through 2025 as a result of the industrial and auto weakness.
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