Baird Upgrades STMicroelectronics (STM) to Outperform
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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."
Shares of STMicroelectronics closed at $8.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stifel Upgrades PayPal (PYPL) to Buy Following 'Solid' Q3 Results
- RBC Capital Raises Price Target on Benchmark Electronics (BHE) Following In-Line 3Q
- Wedbush Reiterates Outperform on Pool Corp. (POOL) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Upgrades
Related EntitiesRobert W Baird
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!