STMicroelectronics: share price rebounds, Berenberg to buy
The broker believes that the weakness of the industrial and consumer electronics markets, and to some extent the automotive sector, is now well integrated into the share price.
In our view, STM's order book and margins should improve in the second half, against a backdrop of stabilization in its main markets from mid-year onwards", he stresses.
In addition, we believe that the company's exposure to Apple and Tesla, now below pre-2022 levels, could eventually lead to a revaluation in terms of multiple', concludes Berenberg.
At around 11:20 a.m., STMicroelectronics was up 0.8% after having gained more than 2.7% at the start of the session, while the CAC advanced by 0.3%. Since the beginning of 2024, the stock has lost nearly 18%.
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