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Fly News Breaks for January 23, 2020
STM
Jan 23, 2020 | 09:16 EDT
Craig-Hallum analyst Anthony Stoss raised his price target for STMicroelectronics to $34 from $28 as continued content growth and now a recovery in key end-markets have him optimistic about its prospects for fiscal year 2020 and beyond. Moreover, the analyst sees STMicroelectronics benefitting from Chinese OEMs' shift away from sole sourcing chips from U.S. suppliers as the company is based in Europe. Stoss reiterates a Buy rating on the shares.
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