Baird Upgrades STMicroelectronics (STM) to Outperform
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- UPDATE: Oppenheimer Upgrades Columbia Property Trust (CXP) to Outperform
- Targa Resources (TRGP) PT Raised to $65 at Credit Suisse
- Jefferies Downgrades NantKwest (NK) to Hold
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!