Baird Upgrades STMicroelectronics (STM) to Outperform

October 10, 2016 6:18 AM EDT
Get Alerts STM Hot Sheet
Price: $11.95 +2.31%

Rating Summary:
    6 Buy, 7 Hold, 8 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 19 | New: 11
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Baird upgraded STMicroelectronics (NYSE: STM) from Neutral to Outperform with a price target of $11.00 (from $7.00).

Analyst Tristan Gerra commented, "Upgrading to Outperform on the basis of a sequential reacceleration in EPS, restructuring savings, market share gains, and positive 3Q outlook. STMicro is gaining market share in MCUs, MEMS, and imaging. Gross margin catalysts include lower depreciation, unused capacity charges, manufacturing efficiencies, and currency, along with a rebounding top line."

For an analyst ratings summary and ratings history on STMicroelectronics click here. For more ratings news on STMicroelectronics click here.

Shares of STMicroelectronics closed at $8.31 yesterday.

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