Morgan Stanley analyst Lee Simpson upgraded STMicroelectronics to Overweight from Equal Weight with a price target of EUR 48, up from EUR 40. The analyst sees the company’s margin “troughs turning to robust recovery” in the second half of 2024. Weakness in industrials replaces the need to wait for autos roll-over before buying the shares, says the firm. It believes time is right to look again at STMicroelectronics.
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