STMicroelectronics (STM) Executing Well, Benefiting form Improving Macro - Baird

Baird analyst Tristan Gerra reiterated an Outperform rating on STMicroelectronics (NYSE: STM) and boosted his price target to $11.00 (from $10.00) following Q1 results which showed improving macro, solid execution.

Gerra commented, "ST reiterated its gross and operating margin targets, and seems to benefit from unusually high design win momentum in a variety of segments, including key FD SOI wins and significant share gain in microcontrollers. Management noted an improvement in orders in recent weeks, with notable strength in distributor point of sales and in automotive. Company is only one-third of the way toward its gross margin target."

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 $9.21 yesterday.

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